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PPP Loan Data — Valley It Solutions LLC,
Fargo, ND
Valley It Solutions LLC
Entity: Limited Liability Company (LLC)
Industry: Custom Computer Programming Services
Location: Fargo, ND
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Valley It Solutions LLC is a limited liability company (LLC) located at 1121 Westrac Dr S in Fargo, North Dakota that received a Coronavirus-related PPP loan from the SBA of $211,580.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least twelve people during the applicable loan loan period.
$
PPP Loan Information
Loan #1656318302
Loan Size:
Jobs Retained:
12Loan Approved:
2021-01-19Loan Status:
Ongoing LoanLender:
Town and Country CUValley It Solutions LLC in Fargo, ND received a Paycheck Protection Loan of $211,580 through Town and Country CU, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Valley It Solutions LLC's 2019 payroll expenses are estimated to be at least $1.02M.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $84,632 per employee1
Reported PPP Proceed Usage:
On the PPP application, Valley It Solutions LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $211,576
- Utilities: $1
Business Information - Valley It Solutions LLC in Fargo, ND
1121 Westrac Dr S
Fargo, ND 58103
Business Industry:
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Fargo
In the Fargo area, 17 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 12) and received an average PPP loan of $269,575 (compared to this company's $211,580).
Similar Nearby Businesses Who Received PPP Funding:
Botlink, LLC
Fargo, ND
Bushel Inc
Fargo, ND
Sycorr Inc
Fargo, ND
Razor Tracking Inc
Fargo, ND
Minimum Tech LLC
Fargo, ND
Flentis Corporation
Fargo, ND
Zulafly, Inc
Fargo, ND
Fargotek
Fargo, ND
Industry PPP Comparison Statistics
Nationwide, 38,818 businesses in the "Custom Computer Programming Services" industry received a total of $6.47B 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, 8% lower than Valley It Solutions LLC's reported 12 employees, and received an average PPP loan of $166,647, 21% lower than this company's loan of $211,580.
Valley It Solutions LLC
Entity: Limited Liability Company (LLC)
Industry: Custom Computer Programming Services
Location: Fargo, ND
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•
Search All PPP Data
Valley It Solutions LLC is a limited liability company (LLC) located at 1121 Westrac Dr Suite 106 in Fargo, North Dakota that received a Coronavirus-related PPP loan from the SBA of $211,500.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least twelve people during the applicable loan loan period.
$
PPP Loan Information
Loan #6712597002
Loan Size:
Jobs Retained:
12Loan Approved:
2020-04-07Loan Status:
Paid in Full or ForgivenLender:
Town and Country CUValley It Solutions LLC in Fargo, ND received a Paycheck Protection Loan of $211,500 through Town and Country CU, 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 February, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Valley It Solutions LLC's 2019 payroll expenses are estimated to be at least $1.02M.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $84,600 per employee1
Reported PPP Proceed Usage:
On the PPP application, Valley It Solutions LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $211,500
Business Information - Valley It Solutions LLC in Fargo, ND
1121 Westrac Dr Suite 106
Fargo, ND 58103
Business Industry:
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Fargo
In the Fargo area, 17 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 12) and received an average PPP loan of $269,575 (compared to this company's $211,500).
Similar Nearby Businesses Who Received PPP Funding:
Botlink, LLC
Fargo, ND
Bushel Inc
Fargo, ND
Sycorr Inc
Fargo, ND
Razor Tracking Inc
Fargo, ND
Minimum Tech LLC
Fargo, ND
Flentis Corporation
Fargo, ND
Zulafly, Inc
Fargo, ND
Fargotek
Fargo, ND
Industry PPP Comparison Statistics
Nationwide, 38,818 businesses in the "Custom Computer Programming Services" industry received a total of $6.47B 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, 8% lower than Valley It Solutions LLC's reported 12 employees, and received an average PPP loan of $166,647, 21% lower than this company's loan of $211,500.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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