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PPP Loan Data — Variq Corporation,
Rockville, MD
Variq Corporation
Entity: Corporation
Industry: Computer Systems Design Services
Location: Rockville, MD
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Variq Corporation is a corporation located at 2600 Tower Oaks Blvd Ste 300 in Rockville, Maryland that received a Coronavirus-related PPP loan from the SBA of $4,210,030.00 in May, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
215Loan Approved:
2020-05-01Lender:
BANK OF AMERICA, NATIONAL ASSOCIATIONVariq Corporation in Rockville, MD received a Paycheck Protection Loan of $4.21M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Variq Corporation's total 2019 payroll expenses were approximately $20.21M in order to qualify for the PPP loan amount received.
Based on their reported 215 jobs retained, this equals an estimated average yearly compensation of $93,991 per employee1.
Business Information - Variq Corporation in Rockville, MD
2600 Tower Oaks Blvd Ste 300
Rockville, MD 20852
Business Industry
Computer Systems Design Services (NAICS code 541512)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MD-08Similar Companies near Rockville
In the Rockville area, 13 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 215) and received an average PPP loan of $468,954 (compared to this company's $4.21M).
Similar Nearby Businesses Who Received PPP Funding:
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Industry PPP Comparison Statistics
Nationwide, 17,994 businesses in the "Computer Systems Design Services" industry received a total of $3,264,251,371.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 10 employees, 95% lower than Variq Corporation's reported 215 employees, and received an average PPP loan of $181,408, 96% lower than this company's loan of $4.21M.
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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