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PPP Loan Data — Sycom Technologies LLC, Richmond, VA

SBA PPP loan data, payroll data, and salaries for Sycom Technologies LLC
VA

Sycom Technologies LLC

Entity: Limited Liability Company (LLC)

Industry: Computer Systems Design Services

Location: Richmond, VA

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Sycom Technologies LLC is a limited liability company (LLC) located at 1801 Bayberry Ct in Richmond, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,781,970.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.78M

Jobs Retained:

141

Loan Approved:

2020-04-27

Lender:

ATLANTIC UNION BANK

Sycom Technologies LLC received a Paycheck Protection Loan of $2.78M through ATLANTIC UNION BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Sycom Technologies LLC's total 2019 payroll expenses were approximately $13.35M in order to qualify for the PPP loan amount received.

Based on their reported 141 jobs retained, this equals an estimated average yearly compensation of $94,705 per employee1.

Because the loan received by Sycom Technologies LLC 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 - Sycom Technologies LLC in Richmond, VA

Sycom Technologies LLC
1801 Bayberry Ct
Richmond, VA 23226

Business Industry

Computer Systems Design Services (NAICS code 541512)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-07

Similar Companies near Richmond

In the Richmond area, 3 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 141) and received an average PPP loan of $1,070,957 (compared to this company's $2.78M).

Industry PPP Comparison Statistics

Nationwide, 17,994 businesses in the "Computer Systems Design Services" industry received a total of $3,264,251,371.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 10 employees, 93% lower than Sycom Technologies LLC's reported 141 employees, and received an average PPP loan of $181,408, 93% lower than this company's loan of $2.78M.

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/sycom-technologies-llc-richmond-va