PPP Loan Data — Sunrise Technologies, Inc, Winston Salem, NC
Sunrise Technologies, Inc is a subchapter s corporation located at 525 Vine St in Winston Salem, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,694,400.00 in April, 2020.
$ PPP Loan Information
Lender:FIRST-CITIZENS BANK & TRUST COMPANY
Sunrise Technologies, Inc in Winston Salem, NC received a Paycheck Protection Loan of $3.69M through FIRST-CITIZENS BANK & TRUST COMPANY, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 161 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 177.
Based on standard PPP eligibility rules, Sunrise Technologies, Inc's total 2019 payroll expenses were approximately $17.73M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 161 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Sunrise Technologies, Inc in Winston Salem, NC
525 Vine St
Winston Salem, NC 27101
Computer Training (NAICS code 611420)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NC-05
Similar Companies near Winston Salem
In the Winston Salem area, 2 businesses in the "Computer Training" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 161) and received an average PPP loan of $1,872,188 (compared to this company's $3.69M).
Similar Nearby Businesses Who Received PPP Funding:
Winston Salem, NC
Industry PPP Comparison Statistics
Nationwide, 927 businesses in the "Computer Training" industry received a total of $92,590,498.00 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 7 employees, 96% lower than Sunrise Technologies, Inc's reported 161 employees, and received an average PPP loan of $99,882, 97% lower than this company's loan of $3.69M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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