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PPP Loan Data — Solutionz Videoconferencing, Inc, Los Angeles, CA

SBA PPP loan data, payroll data, and salaries for Solutionz Videoconferencing, Inc
CA

Solutionz Videoconferencing, Inc

Entity: Corporation

Industry: Wired Telecommunications Carriers

Location: Los Angeles, CA

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Solutionz Videoconferencing, Inc is a corporation located at 901 Bringham Ave in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $6,077,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.08M

Jobs Retained:

371

Loan Approved:

2020-04-12

Lender:

COMERICA BANK

Solutionz Videoconferencing, Inc received a Paycheck Protection Loan of $6.08M through COMERICA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Solutionz Videoconferencing, Inc's total 2019 payroll expenses were approximately $29.17M in order to qualify for the PPP loan amount received.

Based on their reported 371 jobs retained, this equals an estimated average yearly compensation of $78,626 per employee1.

Because the loan received by Solutionz Videoconferencing, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Solutionz Videoconferencing, Inc in Los Angeles, CA

Solutionz Videoconferencing, Inc
901 Bringham Ave
Los Angeles, CA 90049

Business Industry

Wired Telecommunications Carriers (NAICS code 517311)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-33

Industry PPP Comparison Statistics

Nationwide, 1,053 businesses in the "Wired Telecommunications Carriers" industry received a total of $312,345,268.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 19 employees, 95% lower than Solutionz Videoconferencing, Inc's reported 371 employees, and received an average PPP loan of $296,624, 95% lower than this company's loan of $6.08M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/solutionz-videoconferencing-inc-los-angeles-ca