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PPP Loan Data — Baanyan Software Services Inc, Edison, NJ

SBA PPP loan data, payroll data, and salaries for Baanyan Software Services Inc
NJ

Baanyan Software Services Inc

Entity: Subchapter S Corporation

Industry: Custom Computer Programming Services

Location: Edison, NJ

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Baanyan Software Services Inc is a subchapter s corporation located at 100 Metroplex Drive Suite 100 in Edison, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,422,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.42M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-15

Lender:

PNC BANK, NATIONAL ASSOCIATION

Baanyan Software Services Inc received a Paycheck Protection Loan of $2.42M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Baanyan Software Services Inc's total 2019 payroll expenses were approximately $11.63M in order to qualify for the PPP loan amount received.

Unlike most businesses, Baanyan Software Services 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 Baanyan Software Services 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 - Baanyan Software Services Inc in Edison, NJ

Baanyan Software Services Inc
100 Metroplex Drive Suite 100
Edison, NJ 8817

Business Industry

Custom Computer Programming Services (NAICS code 541511)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-06

Similar Companies near Edison

In the Edison area, 40 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 0) and received an average PPP loan of $552,226 (compared to this company's $2.42M).

Industry PPP Comparison Statistics

Nationwide, 24,641 businesses in the "Custom Computer Programming Services" industry received a total of $4,943,790,485.00 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 11 employees, and received an average PPP loan of $200,633, 92% lower than this company's loan of $2.42M.

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.

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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/baanyan-software-services-inc-edison-nj