PPP Loan Data — Vensiti Inc, Irving, TX
Vensiti Inc is a limited liability company (LLC) located at 300 E Royal Ln Ste 109 in Irving, Texas that received a Coronavirus-related PPP loan from the SBA of $305,600.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least eighteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First United Bank and Trust Company
Vensiti Inc in Irving, TX received a Paycheck Protection Loan of $305,600 through First United Bank and Trust Company, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Vensiti Inc's 2019 payroll expenses are estimated to be at least $1.47M.
Based on their reported 18 jobs retained, this equals an estimated average yearly compensation of $81,493 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vensiti Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $301,513
- Utilities: $557
- Rent: $3,530
Business Information - Vensiti Inc in Irving, TX
300 E Royal Ln Ste 109
Irving, TX 75039
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Irving
In the Irving area, 125 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 18) and received an average PPP loan of $498,713 (compared to this company's $305,600).
Similar Nearby Businesses Who Received PPP Funding:
Newt Global Consulting LLC
Endurance Group Inc
KBS Solutions LLC
Eteam Solutions Inc
KC Synergy Solutions Inc
ICS Global Soft, Inc
Global Systems, LLC
Industry PPP Comparison Statistics
Nationwide, 42,875 businesses in the "Custom Computer Programming Services" industry received a total of $6.65B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 10 employees, 44% lower than Vensiti Inc's reported 18 employees, and received an average PPP loan of $155,111, 49% lower than this company's loan of $305,600.
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Footnotes & Information
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