PPP Loan Information — ELEIT TECHNOLOGY, INC.
ELEIT TECHNOLOGY, INC. is a corporation located in Huntsville, Alabama that received a Coronavirus-related PPP loan from the SBA of at least $350,000.00 in April, 2020.
PPP Loan Information
$350,000 to $854,167
ELEIT TECHNOLOGY, INC. received a Paycheck Protection Loan of between 350,000 and 1M through ServisFirst Bank, which was approved in April, 2020.
When accounting for 41 claimed employees and the PPP salary cap of $100k per employee, the actual maximum PPP received by this business is likely $854,1672.
Based on standard PPP eligibility rules, ELEIT TECHNOLOGY, INC.'s total 2019 payroll expenses were between $1.68M and $4.1M+ in order to qualify for the PPP loan amount received. Based on their reported 41 jobs retained, this equals an estimated average yearly compensation between $40,976 and $100,000+ per employee1.
Business Information - ELEIT TECHNOLOGY, INC. in HUNTSVILLE, AL
201 TRIANA BLVD NW
HUNTSVILLE, AL 35805
Facilities Support Services (NAICS code 561210)
Business Owner Demographics
Race / Ethnicity: Unanswered
Veteran Status: UnansweredAL - 05
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for private companies that received a PPP loan of $150,000 or over. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.
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.