PPP Loan Data — Cadence Innovations Group, Inc., South Jordan, UT
Cadence Innovations Group, Inc.
Entity: Subchapter S Corporation
Location: South Jordan, UTTweet This • Search All PPP Data
Cadence Innovations Group, Inc. is a subchapter s corporation located at 10855 S River Front Parkway in South Jordan, Utah that received a Coronavirus-related PPP loan from the SBA of $2,495,140.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 139 people during the applicable loan loan period.
$ PPP Loan Information
Lender:KEYBANK NATIONAL ASSOCIATION
Cadence Innovations Group, Inc. in South Jordan, UT received a Paycheck Protection Loan of $2.5M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Cadence Innovations Group, Inc.'s total 2019 payroll expenses were approximately $11.98M in order to qualify for the PPP loan amount received.
Based on their reported 139 jobs retained, this equals an estimated average yearly compensation of $86,163 per employee1.
Business Information - Cadence Innovations Group, Inc. in South Jordan, UT
10855 S River Front Parkway
South Jordan, UT 84095
Other Direct Insurance (except Life, Health, and Medical) Carriers (NAICS code 524128)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: VETERANCongressional District: UT-04
Similar Companies near South Jordan
In the South Jordan area, 2 businesses in the "Other Direct Insurance (except Life, Health, and Medical) Carriers" industry received a PPP loan. These local businesses reported an average of 70 employees (compared to this company's 139) and received an average PPP loan of $1,251,320 (compared to this company's $2.5M).
Similar Nearby Businesses Who Received PPP Funding:
Action Direct LLC
Industry PPP Comparison Statistics
Nationwide, 922 businesses in the "Other Direct Insurance (except Life, Health, and Medical) Carriers" industry received a total of $91,174,458.00 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 7 employees, 95% lower than Cadence Innovations Group, Inc.'s reported 139 employees, and received an average PPP loan of $98,888, 96% lower than this company's loan of $2.5M.
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, 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.
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