PPP Loan Data — Victory Woodworks, Inc., Sparks, NV
Victory Woodworks, Inc. is a subchapter s corporation located at 340 Kresge Lane in Sparks, Nevada that received a Coronavirus-related PPP loan from the SBA of $2,850,600.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 125 people during the applicable loan loan period.
$ PPP Loan Information
Lender:WESTERN ALLIANCE BANK
Victory Woodworks, Inc. in Sparks, NV received a Paycheck Protection Loan of $2.85M through WESTERN ALLIANCE BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 125 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 137.
Based on standard PPP eligibility rules, Victory Woodworks, Inc.'s total 2019 payroll expenses were approximately $13.68M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 125 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Victory Woodworks, Inc. in Sparks, NV
340 Kresge Lane
Sparks, NV 89431
Finish Carpentry Contractors (NAICS code 238350)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: NV-02
Similar Companies near Sparks
In the Sparks area, 5 businesses in the "Finish Carpentry Contractors" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 125) and received an average PPP loan of $684,475 (compared to this company's $2.85M).
Similar Nearby Businesses Who Received PPP Funding:
Byecraft Cabinet, Inc
Alder Creek Cabinetry LLC
Black Rock Window & Door, Inc.
Zion Builders, Inc.
Industry PPP Comparison Statistics
Nationwide, 10,837 businesses in the "Finish Carpentry Contractors" industry received a total of $620,397,823.00 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 5 employees, 96% lower than Victory Woodworks, Inc.'s reported 125 employees, and received an average PPP loan of $57,248, 98% lower than this company's loan of $2.85M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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