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PPP Loan Data — Velocity The Greatest Phone Company Ever, Inc., Holland, OH

SBA PPP loan data, payroll data, and salaries for Velocity The Greatest Phone Company Ever, Inc.
OH

Velocity The Greatest Phone Company Ever, Inc.

Entity: Subchapter S Corporation

Industry: Telecommunications Resellers

Location: Holland, OH

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Velocity The Greatest Phone Company Ever, Inc. is a subchapter s corporation located at 7130 Spring Meadows Dr. W in Holland, Ohio that received a Coronavirus-related PPP loan from the SBA of $4,101,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.1M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-14

Lender:

CITIZENS BANK, NATIONAL ASSOCIATION

Velocity The Greatest Phone Company Ever, Inc. in Holland, OH received a Paycheck Protection Loan of $4.1M through CITIZENS BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Velocity The Greatest Phone Company Ever, Inc.'s total 2019 payroll expenses were approximately $19.69M in order to qualify for the PPP loan amount received.

Unlike most businesses, Velocity The Greatest Phone Company Ever, Inc.'s PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Velocity The Greatest Phone Company Ever, 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 - Velocity The Greatest Phone Company Ever, Inc. in Holland, OH

Velocity The Greatest Phone Company Ever, Inc.
7130 Spring Meadows Dr. W
Holland, OH 43528

Business Industry

Telecommunications Resellers (NAICS code 517911)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-05

Similar Companies near Holland

In the Holland area, 3 businesses in the "Telecommunications Resellers" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 0) and received an average PPP loan of $1,375,002 (compared to this company's $4.1M).

Industry PPP Comparison Statistics

Nationwide, 1,596 businesses in the "Telecommunications Resellers" industry received a total of $356,494,761.00 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 16 employees, and received an average PPP loan of $223,368, 95% lower than this company's loan of $4.1M.

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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/velocity-the-greatest-phone-company-ever-inc-holland-oh