PPP Loan Data — Vision Point Systems, Inc, Fairfax, VA
Vision Point Systems, Inc is a corporation located at 3951 Pender Dr Suite 115 in Fairfax, Virginia that received a Coronavirus-related PPP loan from the SBA of $1,688,700.00 in April, 2020.
The company has reported itself as an Asian owned business, and employed at least 127 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Vision Point Systems, Inc in Fairfax, VA received a Paycheck Protection Loan of $1.69M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.
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, Vision Point Systems, Inc's 2019 payroll expenses are estimated to be at least $8.11M.
Based on their reported 127 jobs retained, this equals an estimated average yearly compensation of $63,825 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vision Point Systems, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,688,700
Business Information - Vision Point Systems, Inc in Fairfax, VA
3951 Pender Dr Suite 115
Fairfax, VA 22030
Other Computer Related Services
NAICS code 541519
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fairfax
In the Fairfax area, 42 businesses in the "Other Computer Related Services" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 127) and received an average PPP loan of $383,950 (compared to this company's $1.69M).
Similar Nearby Businesses Who Received PPP Funding:
Business Computers Management Consulting Group, LLC
Eastray Technologies Inc
Datalock Consulting Group, LLC
Vanguard Management Solutions, LLC
RKS Data Solutions Inc
City State Entertainment, LLC
Industry PPP Comparison Statistics
Nationwide, 25,371 businesses in the "Other Computer Related Services" industry received a total of $3.1B 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 8 employees, 94% lower than Vision Point Systems, Inc's reported 127 employees, and received an average PPP loan of $122,066, 93% lower than this company's loan of $1.69M.
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Footnotes & Information
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