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PPP Loan Data — Cherryroad Technologies Inc.,
Boca Raton, FL
Cherryroad Technologies Inc.
Entity: Corporation
Industry: Computer Systems Design Services
Location: Boca Raton, FL
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Cherryroad Technologies Inc. is a corporation located at 2101 Nw Corporate Blvd Ste 104 in Boca Raton, Florida that received a Coronavirus-related PPP loan from the SBA of $6,220,800.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
417Loan Approved:
2020-04-08Lender:
EAST WEST BANKCherryroad Technologies Inc. received a Paycheck Protection Loan of $6.22M through EAST WEST BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Cherryroad Technologies Inc.'s total 2019 payroll expenses were approximately $29.86M in order to qualify for the PPP loan amount received.
Based on their reported 417 jobs retained, this equals an estimated average yearly compensation of $71,606 per employee1.
Business Information - Cherryroad Technologies Inc. in Boca Raton, FL
2101 Nw Corporate Blvd Ste 104
Boca Raton, FL 33431
Business Industry
Computer Systems Design Services (NAICS code 541512)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: FL-22Similar Companies near Boca Raton
In the Boca Raton area, 22 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 417) and received an average PPP loan of $403,195 (compared to this company's $6.22M).
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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, 98% lower than Cherryroad Technologies Inc.'s reported 417 employees, and received an average PPP loan of $181,408, 97% lower than this company's loan of $6.22M.
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.
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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