PPP Loan Data — Velocity Ventures, Inc, Auburn, AL
Velocity Ventures, Inc is a subchapter s corporation located at 459 N Dean Rd in Auburn, Alabama that received a Coronavirus-related PPP loan from the SBA of $3,211,600.00 in April, 2020.
$ PPP Loan Information
Lender:HANCOCK WHITNEY BANK
Velocity Ventures, Inc received a Paycheck Protection Loan of $3.21M through HANCOCK WHITNEY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Velocity Ventures, Inc's total 2019 payroll expenses were approximately $15.42M in order to qualify for the PPP loan amount received.
Based on their reported 317 jobs retained, this equals an estimated average yearly compensation of $48,630 per employee1.
Business Information - Velocity Ventures, Inc in Auburn, AL
459 N Dean Rd
Auburn, AL 36830
Automotive Oil Change and Lubrication Shops (NAICS code 811191)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: AL-03
Industry PPP Comparison Statistics
Nationwide, 2,643 businesses in the "Automotive Oil Change and Lubrication Shops" industry received a total of $237,744,094.00 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 11 employees, 97% lower than Velocity Ventures, Inc's reported 317 employees, and received an average PPP loan of $89,952, 97% lower than this company's loan of $3.21M.
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Footnotes & Information
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