PPP Loan Data — Sound N Secure Inc, Milford, DE
Sound N Secure Inc is a corporation located at 20444 Pingue Dr in Milford, Delaware that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Sound N Secure Inc in Milford, DE received a Paycheck Protection Loan of $25,100 through PNC Bank, National Association, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Sound N Secure Inc's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,160 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sound N Secure Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - Sound N Secure Inc in Milford, DE
20444 Pingue Dr
Milford, DE 19963
Security Systems Services (except Locksmiths)
NAICS code 561621
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 9,089 businesses in the "Security Systems Services (except Locksmiths)" industry received a total of $1.11B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 12 employees, 300% higher than Sound N Secure Inc's reported 3 employees, and received an average PPP loan of $122,118, 387% higher than this company's loan of $25,100.
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Footnotes & Information
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