PPP Loan Data — Versa Press, Inc, East Peoria, IL
Versa Press, Inc is a subchapter s corporation located at 1465 Spring Bay Road in East Peoria, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,078,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 239 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Morton Community Bank
Versa Press, Inc in East Peoria, IL received a Paycheck Protection Loan of $3.08M through Morton Community Bank, 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, Versa Press, Inc's 2019 payroll expenses are estimated to be at least $14.78M.
Based on their reported 239 jobs retained, this equals an estimated average yearly compensation of $61,824 per employee1
Reported PPP Proceed Usage:
On the PPP application, Versa Press, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,078,300
Business Information - Versa Press, Inc in East Peoria, IL
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Versa Press, Inc's reported 239 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $3.08M.
FederalPay's PPP Information Policy
Footnotes & Information
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