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PPP Loan Data — Astir It Solutions Inc, South Plainfield, NJ

SBA PPP loan data, payroll data, and salaries for Astir It Solutions Inc
NJ

Astir It Solutions Inc

Entity: Corporation

Industry: Computer Systems Design Services

Location: South Plainfield, NJ

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Astir It Solutions Inc is a corporation located at 50 Cragwood Rd Ste 219 in South Plainfield, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,367,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.37M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-15

Lender:

PNC BANK, NATIONAL ASSOCIATION

Astir It Solutions Inc received a Paycheck Protection Loan of $3.37M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Astir It Solutions Inc's total 2019 payroll expenses were approximately $16.16M in order to qualify for the PPP loan amount received.

Unlike most businesses, Astir It Solutions Inc's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Astir It Solutions Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Astir It Solutions Inc in South Plainfield, NJ

Astir It Solutions Inc
50 Cragwood Rd Ste 219
South Plainfield, NJ 7080

Business Industry

Computer Systems Design Services (NAICS code 541512)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-06

Similar Companies near South Plainfield

In the South Plainfield area, 17 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 0) and received an average PPP loan of $591,059 (compared to this company's $3.37M).

Industry PPP Comparison Statistics

Nationwide, 17,994 businesses in the "Computer Systems Design Services" industry received a total of $3,264,251,371.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 10 employees, and received an average PPP loan of $181,408, 95% lower than this company's loan of $3.37M.

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.

Search FederalPay's Full PPP Loan Database

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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/astir-it-solutions-inc-south-plainfield-nj