PPP Loan Data — Valiant Energy Services, LLC, Allentown, PA
Valiant Energy Services, LLC
Entity: Limited Liability Company (LLC)
Location: Allentown, PATweet This • Search All PPP Data
Valiant Energy Services, LLC is a limited liability company (LLC) located at 2013 Route 309 in Allentown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $4,551,600.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 115 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Valiant Energy Services, LLC in Allentown, PA received a Paycheck Protection Loan of $4.55M through ConnectOne Bank, which was approved in April, 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 June, 2021.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 115 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.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 218. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Valiant Energy Services, LLC's 2019 payroll expenses are estimated to be at least $21.85M (not accounting for salary amounts > $100k).
Because the 115 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Valiant Energy Services, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,551,600
Business Information - Valiant Energy Services, LLC in Allentown, PA
2013 Route 309
Allentown, PA 18104
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Allentown
In the Allentown area, 10 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 115) and received an average PPP loan of $626,201 (compared to this company's $4.55M).
Similar Nearby Businesses Who Received PPP Funding:
Cedeno Electrical Contractors Inc
B&B Electrical Contractors, Inc
Valleywide Electric, Inc
Watkins And Services LLC
G-C Electric Co. Inc
Hower Electric Inc
Lehigh Valley Electric, Inc
Industry PPP Comparison Statistics
Nationwide, 81,495 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.75B 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, 90% lower than Valiant Energy Services, LLC's reported 115 employees, and received an average PPP loan of $144,173, 97% lower than this company's loan of $4.55M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!