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PPP Loan Data — Team Velocity Marketing, LLC, Herndon, VA

SBA PPP loan data, payroll data, and salaries for Team Velocity Marketing, LLC
VA

Team Velocity Marketing, LLC

Entity: Limited Liability Company (LLC)

Industry: Advertising Agencies

Location: Herndon, VA

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Team Velocity Marketing, LLC is a limited liability company (LLC) located at 13025 Sunrise Valley Drive, Ste. 150, in Herndon, Virginia that received a Coronavirus-related PPP loan from the SBA of $5,087,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.09M

Jobs Retained:

290

Loan Approved:

2020-04-07

Lender:

CITY NATIONAL BANK OF FLORIDA

Team Velocity Marketing, LLC received a Paycheck Protection Loan of $5.09M through CITY NATIONAL BANK OF FLORIDA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Team Velocity Marketing, LLC's total 2019 payroll expenses were approximately $24.42M in order to qualify for the PPP loan amount received.

Based on their reported 290 jobs retained, this equals an estimated average yearly compensation of $84,202 per employee1.

Because the loan received by Team Velocity Marketing, 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 - Team Velocity Marketing, LLC in Herndon, VA

Team Velocity Marketing, LLC
13025 Sunrise Valley Drive, Ste. 150,
Herndon, VA 20171

Business Industry

Advertising Agencies (NAICS code 541810)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-10

Similar Companies near Herndon

In the Herndon area, 5 businesses in the "Advertising Agencies" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 290) and received an average PPP loan of $1,139,294 (compared to this company's $5.09M).

Industry PPP Comparison Statistics

Nationwide, 11,928 businesses in the "Advertising Agencies" industry received a total of $1,505,946,886.00 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 8 employees, 97% lower than Team Velocity Marketing, LLC's reported 290 employees, and received an average PPP loan of $126,253, 98% lower than this company's loan of $5.09M.

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.

Search FederalPay's Full PPP Loan Database

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/team-velocity-marketing-llc-herndon-va