PPP Loan Data — Valley Merchant Police Inc, Albany, OR
Valley Merchant Police Inc is a corporation located at 956 Geary St in Albany, Oregon that received a Coronavirus-related PPP loan from the SBA of $46,180.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Central Willamette CU
Valley Merchant Police Inc in Albany, OR received a Paycheck Protection Loan of $46,180 through Central Willamette CU, which was approved in April, 2020.
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, Valley Merchant Police Inc's 2019 payroll expenses are estimated to be at least $221,664.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,151 per employee1
Reported PPP Proceed Usage:
On the PPP application, Valley Merchant Police Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,944
- Utilities: $2,809
- Rent: $8,427
Business Information - Valley Merchant Police Inc in Albany, OR
956 Geary St
Albany, OR 97322
Security Guards and Patrol Services
NAICS code 561612
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Albany
In the Albany area, 2 businesses in the "Security Guards and Patrol Services" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 11) and received an average PPP loan of $26,111 (compared to this company's $46,180).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 14,660 businesses in the "Security Guards and Patrol Services" industry received a total of $1.46B 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 18 employees, 64% higher than Valley Merchant Police Inc's reported 11 employees, and received an average PPP loan of $99,483, 115% higher than this company's loan of $46,180.
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