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PPP Loan Data — Sterling Computers Corporation, North Sioux City, SD

SBA PPP loan data, payroll data, and salaries for Sterling Computers Corporation
SD

Sterling Computers Corporation

Entity: Subchapter S Corporation

Industry: Computer and Computer Peripheral Equipment and Software Merchant Wholesalers

Location: North Sioux City, SD

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Sterling Computers Corporation is a subchapter s corporation located at 303 Centennial Dr in North Sioux City, South Dakota that received a Coronavirus-related PPP loan from the SBA of $3,519,300.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 205 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.52M

Jobs Retained:

205

Loan Approved:

2020-04-07

Lender:

THE SECURITY NATIONAL BANK OF SIOUX CITY, IOWA

Sterling Computers Corporation in North Sioux City, SD received a Paycheck Protection Loan of $3.52M through THE SECURITY NATIONAL BANK OF SIOUX CITY, IOWA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Sterling Computers Corporation's total 2019 payroll expenses were approximately $16.89M in order to qualify for the PPP loan amount received.

Based on their reported 205 jobs retained, this equals an estimated average yearly compensation of $82,403 per employee1.

Because the loan received by Sterling Computers Corporation 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 - Sterling Computers Corporation in North Sioux City, SD

Sterling Computers Corporation
303 Centennial Dr
North Sioux City, SD 57049

Business Industry

Computer and Computer Peripheral Equipment and Software Merchant Wholesalers (NAICS code 423430)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: SD-

Industry PPP Comparison Statistics

Nationwide, 2,714 businesses in the "Computer and Computer Peripheral Equipment and Software Merchant Wholesalers" industry received a total of $530,433,905.00 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 12 employees, 94% lower than Sterling Computers Corporation's reported 205 employees, and received an average PPP loan of $195,444, 94% lower than this company's loan of $3.52M.

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, 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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Source: www.federalpay.org/paycheck-protection-program/sterling-computers-corporation-north-sioux-city-sd