VCC, LLC
PPP Loan approved Apr 5, 2020 through Simmons Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $5,692,468.00 | 99.3% |
| Rent / Lease | $41,632.00 | 0.7% |
About This Loan
VCC, LLC received a PPP loan of $5,734,100 approved on Apr 5, 2020. The loan was originated by Simmons Bank.
VCC, LLC is a limited liability company(llc) located in LITTLE ROCK, Arkansas. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Lessors of Real Estate industry (NAICS 531120), part of the Real Estate and Rental and Leasing sector of the economy. The applicant reported 283 jobs as retained through this loan.
The SBA forgave $5,801,157.11 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jun 16, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $5,692,468 to payroll, $41,632 to rent or lease obligations. The payroll component represents 99.3% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Arkansas, visit the Arkansas page. To compare this loan with others in the same industry, see the Lessors of Real Estate industry page.