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PPP Loan Data — Vari Corporation Inc.,
Schuylkill Haven, PA
Vari Corporation Inc.
Entity: Corporation
Industry: Power Boiler and Heat Exchanger Manufacturing
Location: Schuylkill Haven, PA
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Vari Corporation Inc. is a corporation located at 155 Route 61 S in Schuylkill Haven, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,637,255.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
243Loan Approved:
2020-04-14Lender:
TRUIST BANK D/B/A BRANCH BANKING & TRUST COVari Corporation Inc. in Schuylkill Haven, PA received a Paycheck Protection Loan of $2.64M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Vari Corporation Inc.'s total 2019 payroll expenses were approximately $12.66M in order to qualify for the PPP loan amount received.
Based on their reported 243 jobs retained, this equals an estimated average yearly compensation of $52,094 per employee1.
Business Information - Vari Corporation Inc. in Schuylkill Haven, PA
155 Route 61 S
Schuylkill Haven, PA 17972
Business Industry
Power Boiler and Heat Exchanger Manufacturing (NAICS code 332410)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: PA-09Industry PPP Comparison Statistics
Nationwide, 179 businesses in the "Power Boiler and Heat Exchanger Manufacturing" industry received a total of $121,004,820.00 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 44 employees, 82% lower than Vari Corporation Inc.'s reported 243 employees, and received an average PPP loan of $676,005, 74% lower than this company's loan of $2.64M.
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, and is published unmodified, as provided by the SBA.
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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