PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Apisource Inc, Greenbelt, MD

ALERT: There are 2 PPP loans for a total of $2.53M in our database for businesses with the name "Apisource Inc" in Greenbelt, MD. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Apisource Inc
MD

Apisource Inc

Entity: Corporation

Industry: All Other Miscellaneous Textile Product Mills

Location: Greenbelt, MD

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Apisource Inc is a corporation located at 7850 Walker Dr Ste 400 in Greenbelt, Maryland that received a Coronavirus-related PPP loan from the SBA of $1,265,580.00 in March, 2021.

$ PPP Loan Information Loan #5558048603

Loan Size:

$1.27M
PPP Funds Undisbursed

Jobs Retained:

150

Loan Approved:

2021-03-20

Loan Status:

Active Un-Disbursed

Lender:

Sandy Spring Bank

Apisource Inc in Greenbelt, MD received a Paycheck Protection Loan of $1.27M through Sandy Spring Bank, which was approved in March, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $1.27M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Apisource Inc's 2019 payroll expenses are estimated to be at least $6.07M.

Based on their reported 150 jobs retained, this equals an estimated average yearly compensation of $40,499 per employee1

Reported PPP Proceed Usage:

On the PPP application, Apisource Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,265,575
  • Utilities: $1

Business Information - Apisource Inc in Greenbelt, MD

Apisource Inc
7850 Walker Dr Ste 400
Greenbelt, MD 20770

Business Industry:
All Other Miscellaneous Textile Product Mills
NAICS code 314999

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Prince Georges County, MD — SBA Office 0353 — Congressional District: MD-05

Industry PPP Comparison Statistics

Nationwide, 2,587 businesses in the "All Other Miscellaneous Textile Product Mills" industry received a total of $356,511,315.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 15 employees, 90% lower than Apisource Inc's reported 150 employees, and received an average PPP loan of $137,809, 89% lower than this company's loan of $1.27M.

SBA PPP loan data, payroll data, and salaries for Apisource, Inc
MD

Apisource, Inc

Entity: Corporation

Industry: Other Services Related to Advertising

Location: Greenbelt, MD

Search All PPP Data

Apisource, Inc is a corporation located at 7850 Walker Dr in Greenbelt, Maryland that received a Coronavirus-related PPP loan from the SBA of $1,265,580.00 in April, 2020.

$ PPP Loan Information Loan #8795347001

Loan Size:

$1.27M

Jobs Retained:

150

Loan Approved:

2020-04-08

Loan Status:

Ongoing Loan

Lender:

Sandy Spring Bank

Apisource, Inc in Greenbelt, MD received a Paycheck Protection Loan of $1.27M through Sandy Spring Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Apisource, Inc's 2019 payroll expenses are estimated to be at least $6.07M.

Based on their reported 150 jobs retained, this equals an estimated average yearly compensation of $40,499 per employee1

Reported PPP Proceed Usage:

On the PPP application, Apisource, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,140,008
  • Utilities: $50,396
  • Rent: $75,176

Business Information - Apisource, Inc in Greenbelt, MD

Apisource, Inc
7850 Walker Dr
Greenbelt, MD 20770

Business Industry:
Other Services Related to Advertising
NAICS code 541890

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Prince Georges County, MD — SBA Office 0353 — Congressional District: MD-05

Industry PPP Comparison Statistics

Nationwide, 10,396 businesses in the "Other Services Related to Advertising" industry received a total of $651,246,844.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 96% lower than Apisource, Inc's reported 150 employees, and received an average PPP loan of $62,644, 95% lower than this company's loan of $1.27M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/apisource-inc-greenbelt-md