PPP Loan Data — Swartek Corporation, Herndon, VA
Swartek Corporation is a corporation located at 2503 Deer Wood Ct in Herndon, Virginia that received a Coronavirus-related PPP loan from the SBA of $46,888.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Swartek Corporation in Herndon, VA received a Paycheck Protection Loan of $46,888 through Bank of America, National Association, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
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, Swartek Corporation's 2019 payroll expenses are estimated to be at least $225,062.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $75,021 per employee1
Reported PPP Proceed Usage:
On the PPP application, Swartek Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,888
Business Information - Swartek Corporation in Herndon, VA
2503 Deer Wood Ct
Herndon, VA 20171
Data Processing, Hosting, and Related Services
NAICS code 518210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Herndon
In the Herndon area, 15 businesses in the "Data Processing, Hosting, and Related Services" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 3) and received an average PPP loan of $148,852 (compared to this company's $46,888).
Similar Nearby Businesses Who Received PPP Funding:
Unicode Systems Inc
Oak Hill, VA
Agile Broker, Inc
Jeeva Informatics Solutions Inc
Chroma Imaging LLC
Industry PPP Comparison Statistics
Nationwide, 10,209 businesses in the "Data Processing, Hosting, and Related Services" industry received a total of $1.51B 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 11 employees, 267% higher than Swartek Corporation's reported 3 employees, and received an average PPP loan of $147,893, 215% higher than this company's loan of $46,888.
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Footnotes & Information
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