PPP Loan Data — Vertisystem Inc, Fremont, CA
Vertisystem Inc is a subchapter s corporation located at 39300 Civic Center Drive, Suite 160 in Fremont, California that received a Coronavirus-related PPP loan from the SBA of $3,110,322.00 in April, 2020.
$ PPP Loan Information
Vertisystem Inc received a Paycheck Protection Loan of $3.11M through RIVERVIEW BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Vertisystem Inc's total 2019 payroll expenses were approximately $14.93M in order to qualify for the PPP loan amount received.
Based on their reported 208 jobs retained, this equals an estimated average yearly compensation of $71,777 per employee1.
Business Information - Vertisystem Inc in Fremont, CA
39300 Civic Center Drive, Suite 160
Fremont, CA 94538
Custom Computer Programming Services (NAICS code 541511)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-17
Similar Companies near Fremont
In the Fremont area, 75 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 208) and received an average PPP loan of $474,571 (compared to this company's $3.11M).
Similar Nearby Businesses Who Received PPP Funding:
EOK Technologies Inc.
SAR Tech LLC
Sribha Consulting Corporation
Elisa Research Inc.
OSO Ventures Inc.
Inceptio Technology Inc.
Industry PPP Comparison Statistics
Nationwide, 24,641 businesses in the "Custom Computer Programming Services" industry received a total of $4,943,790,485.00 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 11 employees, 95% lower than Vertisystem Inc's reported 208 employees, and received an average PPP loan of $200,633, 94% lower than this company's loan of $3.11M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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