PPP Loan Data — Veratek Satellite Services, Hagerstown, MD
Veratek Satellite Services
Entity: Limited Liability Company (LLC)
Location: Hagerstown, MDTweet This • Search All PPP Data
Veratek Satellite Services is a limited liability company (LLC) located at 18257 Roy Croft Drive in Hagerstown, Maryland that received a Coronavirus-related PPP loan from the SBA of $46,347.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Celtic Bank Corporation
Veratek Satellite Services in Hagerstown, MD received a Paycheck Protection Loan of $46,347 through Celtic Bank Corporation, which was approved in May, 2020.
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, Veratek Satellite Services' 2019 payroll expenses are estimated to be at least $222,466.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,078 per employee1
Reported PPP Proceed Usage:
On the PPP application, Veratek Satellite Services reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,760
- Rent: $11,587
Business Information - Veratek Satellite Services in Hagerstown, MD
18257 Roy Croft Drive
Hagerstown, MD 21740
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Hagerstown
In the Hagerstown area, 26 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $50,031 (compared to this company's $46,347).
Similar Nearby Businesses Who Received PPP Funding:
Legend K9 Training LLC
Hagerstown Smiles Dental Care PA
Blue International Consultant LLC
William D Gift DC PC
Nash Homes Real Estate LLC
Salvatore Morton LLC
Industry PPP Comparison Statistics
Nationwide, 129,763 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.41B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 17% lower than Veratek Satellite Services' reported 6 employees, and received an average PPP loan of $57,091, 23% higher than this company's loan of $46,347.
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Footnotes & Information
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