PPP Loan Data — Chenpo, LLC, Fargo, ND
Chenpo, LLC is a limited liability company (LLC) located at 1111 Westrac Dr in Fargo, North Dakota that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Chenpo, LLC in Fargo, ND received a Paycheck Protection Loan of $24,900 through Bell Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Chenpo, LLC's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,760 per employee1
Reported PPP Proceed Usage:
On the PPP application, Chenpo, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Chenpo, LLC in Fargo, ND
1111 Westrac Dr
Fargo, ND 58103
NAICS code 511210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Fargo
In the Fargo area, 15 businesses in the "Software Publishers" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 2) and received an average PPP loan of $337,849 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Professional Advantage Software Solutions Inc
Inceptive Systems, LLC
Financial Business Systems
Omnibyte Technology Inc
BNG Holdings, Inc
Project Phoenix LLC
Industry PPP Comparison Statistics
Nationwide, 13,466 businesses in the "Software Publishers" industry received a total of $2.73B 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, 550% higher than Chenpo, LLC's reported 2 employees, and received an average PPP loan of $202,819, 715% higher than this company's loan of $24,900.
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Footnotes & Information
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