PPP Loan Data — Yadkin Valley Telephone Membership Corporation, Yadkinville, NC
Yadkin Valley Telephone Membership Corporation is a subchapter s corporation located at 1421 Courtney Huntsville Road in Yadkinville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,268,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First National Bank of Pennsylvania
Yadkin Valley Telephone Membership Corporation in Yadkinville, NC received a Paycheck Protection Loan of $2.27M through First National Bank of Pennsylvania, which was approved in April, 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, Yadkin Valley Telephone Membership Corporation's 2019 payroll expenses are estimated to be at least $10.89M.
Based on their reported 132 jobs retained, this equals an estimated average yearly compensation of $82,473 per employee1
Reported PPP Proceed Usage:
On the PPP application, Yadkin Valley Telephone Membership Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,268,000
Business Information - Yadkin Valley Telephone Membership Corporation in Yadkinville, NC
1421 Courtney Huntsville Road
Yadkinville, NC 27055
Wired Telecommunications Carriers
NAICS code 517311
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 1,832 businesses in the "Wired Telecommunications Carriers" industry received a total of $366.35M 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 15 employees, 89% lower than Yadkin Valley Telephone Membership Corporation's reported 132 employees, and received an average PPP loan of $199,970, 91% lower than this company's loan of $2.27M.
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Footnotes & Information
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