PPP Loan Data — Valley Networks Techs Inc, Salem, OR
Valley Networks Techs Inc
Entity: Subchapter S Corporation
Location: Salem, ORTweet This • Search All PPP Data
Valley Networks Techs Inc is a subchapter s corporation located at 734 Hawthorne Ave Ne in Salem, Oregon that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
Valley Networks Techs Inc in Salem, OR received a Paycheck Protection Loan of $25,000 through U.S. Bank, National Association, which was approved in May, 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 January, 2021.
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 Networks Techs Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Valley Networks Techs Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Valley Networks Techs Inc in Salem, OR
734 Hawthorne Ave Ne
Salem, OR 97301
Computer and Computer Peripheral Equipment and Software Merchant Wholesalers
NAICS code 423430
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Salem
In the Salem area, 3 businesses in the "Computer and Computer Peripheral Equipment and Software Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 2) and received an average PPP loan of $159,807 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
NW Remarketing, Inc
Industry PPP Comparison Statistics
Nationwide, 4,479 businesses in the "Computer and Computer Peripheral Equipment and Software Merchant Wholesalers" industry received a total of $695.57M 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 12 employees, 500% higher than Valley Networks Techs Inc's reported 2 employees, and received an average PPP loan of $155,296, 521% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!