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PPP Loan Data — Verita Telecommunications Corp,
Plymouth, MI
Verita Telecommunications Corp
Entity: Corporation
Industry: Power and Communication Line and Related Structures Construction
Location: Plymouth, MI
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Verita Telecommunications Corp is a corporation located at 47059 Five Mile Rd in Plymouth, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,530,500.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
191Loan Approved:
2020-04-06Lender:
THE STATE BANKVerita Telecommunications Corp in Plymouth, MI received a Paycheck Protection Loan of $2.53M through THE STATE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Verita Telecommunications Corp's total 2019 payroll expenses were approximately $12.15M in order to qualify for the PPP loan amount received.
Based on their reported 191 jobs retained, this equals an estimated average yearly compensation of $63,594 per employee1.
Business Information - Verita Telecommunications Corp in Plymouth, MI
47059 Five Mile Rd
Plymouth, MI 48170
Business Industry
Power and Communication Line and Related Structures Construction (NAICS code 237130)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MI-11Industry PPP Comparison Statistics
Nationwide, 2,531 businesses in the "Power and Communication Line and Related Structures Construction" industry received a total of $727,350,112.00 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 20 employees, 90% lower than Verita Telecommunications Corp's reported 191 employees, and received an average PPP loan of $287,377, 89% lower than this company's loan of $2.53M.
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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