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PPP Loan Data — Visionet Systems Inc, Cranbury, NJ

SBA PPP loan data, payroll data, and salaries for Visionet Systems Inc
NJ

Visionet Systems Inc

Entity: Corporation

Industry: Custom Computer Programming Services

Location: Cranbury, NJ

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Visionet Systems Inc is a corporation located at 4 Cedarbrook Dr in Cranbury, New Jersey that received a Coronavirus-related PPP loan from the SBA of $4,770,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.77M

Jobs Retained:

251

Loan Approved:

2020-04-13

Lender:

PNC BANK, NATIONAL ASSOCIATION

Visionet Systems Inc in Cranbury, NJ received a Paycheck Protection Loan of $4.77M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Visionet Systems Inc's total 2019 payroll expenses were approximately $22.9M in order to qualify for the PPP loan amount received.

Based on their reported 251 jobs retained, this equals an estimated average yearly compensation of $91,221 per employee1.

Because the loan received by Visionet Systems Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Visionet Systems Inc in Cranbury, NJ

Visionet Systems Inc
4 Cedarbrook Dr
Cranbury, NJ 08512

Business Industry

Custom Computer Programming Services (NAICS code 541511)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-12

Similar Companies near Cranbury

In the Cranbury area, 15 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 251) and received an average PPP loan of $672,645 (compared to this company's $4.77M).

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, 96% lower than Visionet Systems Inc's reported 251 employees, and received an average PPP loan of $200,633, 96% lower than this company's loan of $4.77M.

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, and is published unmodified, as provided by the SBA.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/visionet-systems-inc-cranbury-nj