PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Vari Corporation Inc., Schuylkill Haven, PA

SBA PPP loan data, payroll data, and salaries for Vari Corporation Inc.
PA

Vari Corporation Inc.

Entity: Corporation

Industry: Power Boiler and Heat Exchanger Manufacturing

Location: Schuylkill Haven, PA

Search All PPP Data

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:

$2.64M

Jobs Retained:

243

Loan Approved:

2020-04-14

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

Vari 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.

Because the loan received by Vari Corporation Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Vari Corporation Inc. in Schuylkill Haven, PA

Vari Corporation Inc.
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-09

Industry 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.

Search FederalPay's Full PPP Loan Database

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/vari-corporation-inc-schuylkill-haven-pa