PPP Loan Data — Verite Group, Inc, Dulles, VA
Verite Group, Inc is a corporation located at 45240 Business Ct Ste 200 in Dulles, Virginia that received a Coronavirus-related PPP loan from the SBA of $1,690,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Capital One, National Association
Verite Group, Inc in Dulles, VA received a Paycheck Protection Loan of $1.69M through Capital One, National Association, which was approved in April, 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, Verite Group, Inc's 2019 payroll expenses are estimated to be at least $8.12M.
Based on their reported 85 jobs retained, this equals an estimated average yearly compensation of $95,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Verite Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,690,800
Business Information - Verite Group, Inc in Dulles, VA
45240 Business Ct Ste 200
Dulles, VA 20166
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Dulles
In the Dulles area, 63 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 85) and received an average PPP loan of $325,211 (compared to this company's $1.69M).
Similar Nearby Businesses Who Received PPP Funding:
Icloud Technologies, Corp
Shiva Information Technology Services Inc
Metanoia Solutions Inc
ERP Solutions Inc
Vigna Solutions Inc
Industry PPP Comparison Statistics
Nationwide, 43,326 businesses in the "Custom Computer Programming Services" industry received a total of $6.67B 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, 88% lower than Verite Group, Inc's reported 85 employees, and received an average PPP loan of $153,857, 91% lower than this company's loan of $1.69M.
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Footnotes & Information
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