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PPP Loan Data — Archon Tech Strategies, Carmel, IN

ALERT: There are 2 PPP loans for a total of $200,683 in our database for businesses with the name "Archon Tech Strategies" in Carmel, IN. 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 Archon Tech Strategies
IN

Archon Tech Strategies

Entity: Limited Liability Company (LLC)

Industry: Software Publishers

Location: Carmel, IN

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Archon Tech Strategies is a limited liability company (LLC) located at 12400 N Meridian St Ste 150 in Carmel, Indiana that received a Coronavirus-related PPP loan from the SBA of $147,683.00 in January, 2021.

The company has reported itself as a male owned business, and employed at least seven people during the applicable loan loan period.

$ PPP Loan Information
Loan #8824668304

Loan Size:

$147,683

Jobs Retained:

7

Loan Approved:

2021-01-30

Loan Status:

Active Un-Disbursed

Lender:

Old National Bank
Likely Employment Reduction3 PPP Funds Undisbursed

Archon Tech Strategies in Carmel, IN received a Paycheck Protection Loan of $147,683 through Old National Bank, which was approved in January, 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 $147,683 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in January, 2021.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 7 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 7. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

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, Archon Tech Strategies' 2019 payroll expenses are estimated to be at least $708,878 (not accounting for salary amounts > $100k).

Because the 7 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Archon Tech Strategies reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $147,681

Business Information - Archon Tech Strategies in Carmel, IN

Archon Tech Strategies
12400 N Meridian St Ste 150
Carmel, IN 46032

Business Industry:
Software Publishers
NAICS code 511210

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hamilton County, IN — SBA Office 0562 — Congressional District: IN-05

Similar Companies near Carmel

In the Carmel area, 12 businesses in the "Software Publishers" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 7) and received an average PPP loan of $401,208 (compared to this company's $147,683).

Industry PPP Comparison Statistics

Nationwide, 12,401 businesses in the "Software Publishers" industry received a total of $2.66B 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 13 employees, 86% higher than Archon Tech Strategies' reported 7 employees, and received an average PPP loan of $214,589, 45% higher than this company's loan of $147,683.

SBA PPP loan data, payroll data, and salaries for Archon Tech Strategies
IN

Archon Tech Strategies

Entity: Limited Liability Company (LLC)

Industry: Custom Computer Programming Services

Location: Carmel, IN

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Archon Tech Strategies is a limited liability company (LLC) located at 12400 N Meridian St, Suite 150 in Carmel, Indiana that received a Coronavirus-related PPP loan from the SBA of $53,000.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least eight people during the applicable loan loan period.

$ PPP Loan Information
Loan #4863617102

Loan Size:

$53,000

Jobs Retained:

8

Loan Approved:

2020-04-13

Loan Status:

Ongoing Loan

Lender:

Old National Bank

Archon Tech Strategies in Carmel, IN received a Paycheck Protection Loan of $53,000 through Old National 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, Archon Tech Strategies' 2019 payroll expenses are estimated to be at least $254,400.

Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $31,800 per employee1

Reported PPP Proceed Usage:

On the PPP application, Archon Tech Strategies reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $53,000

Business Information - Archon Tech Strategies in Carmel, IN

Archon Tech Strategies
12400 N Meridian St, Suite 150
Carmel, IN 46032

Business Industry:
Custom Computer Programming Services
NAICS code 541511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hamilton County, IN — SBA Office 0562 — Congressional District: IN-05

Similar Companies near Carmel

In the Carmel area, 45 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 8) and received an average PPP loan of $349,977 (compared to this company's $53,000).

Industry PPP Comparison Statistics

Nationwide, 38,818 businesses in the "Custom Computer Programming Services" industry received a total of $6.47B 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, 38% higher than Archon Tech Strategies' reported 8 employees, and received an average PPP loan of $166,647, 214% higher than this company's loan of $53,000.

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/archon-tech-strategies-carmel-in