PPP Loan Data — Versatech, Inc, Savage, MD
Versatech, Inc is a subchapter s corporation located at 8510 Corridor Road in Savage, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,659,737.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 130 people during the applicable loan loan period.
$ PPP Loan Information
Lender:SANDY SPRING BANK
Versatech, Inc in Savage, MD received a Paycheck Protection Loan of $2.66M through SANDY SPRING BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Versatech, Inc's total 2019 payroll expenses were approximately $12.77M in order to qualify for the PPP loan amount received.
Based on their reported 130 jobs retained, this equals an estimated average yearly compensation of $98,206 per employee1.
Business Information - Versatech, Inc in Savage, MD
8510 Corridor Road
Savage, MD 20763
Computer Systems Design Services (NAICS code 541512)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MD-02
Industry PPP Comparison Statistics
Nationwide, 17,994 businesses in the "Computer Systems Design Services" industry received a total of $3,264,251,371.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 10 employees, 92% lower than Versatech, Inc's reported 130 employees, and received an average PPP loan of $181,408, 93% lower than this company's loan of $2.66M.
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Footnotes & Information
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