PPP Loan Data — Visionpro Networks Inc, Farmingdale, NY
Visionpro Networks Inc
Entity: Subchapter S Corporation
Location: Farmingdale, NYTweet This • Search All PPP Data
Visionpro Networks Inc is a subchapter s corporation located at 92 Central Ave in Farmingdale, New York that received a Coronavirus-related PPP loan from the SBA of $1,856,500.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Capital One, National Association
Visionpro Networks Inc in Farmingdale, NY received a Paycheck Protection Loan of $1.86M through Capital One, National Association, which was approved in June, 2020.
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, Visionpro Networks Inc's 2019 payroll expenses are estimated to be at least $8.91M.
Based on their reported 190 jobs retained, this equals an estimated average yearly compensation of $46,901 per employee1
Reported PPP Proceed Usage:
On the PPP application, Visionpro Networks Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,856,500
Business Information - Visionpro Networks Inc in Farmingdale, NY
92 Central Ave
Farmingdale, NY 11735
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Farmingdale
In the Farmingdale area, 25 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 190) and received an average PPP loan of $312,082 (compared to this company's $1.86M).
Similar Nearby Businesses Who Received PPP Funding:
Mennella Electric Inc
Gina Electrical Maintenance Corp
Cooper Power And Lighting Corp
Wire To Water Inc
East Farmingdale, NY
Brother's Wiring Concepts LLC
Safeway Electric Co., Inc
Bardot Electric Of Nassau/Suffolk I
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B 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 11 employees, 94% lower than Visionpro Networks Inc's reported 190 employees, and received an average PPP loan of $142,494, 92% lower than this company's loan of $1.86M.
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Footnotes & Information
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