PPP Loan Data — Cloudwick Technologies, Inc, Newark, CA
Cloudwick Technologies, Inc is a located at 39899 Balentine Dr. in Newark, California that received a Coronavirus-related PPP loan from the SBA of $1,757,563.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least 86 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Cloudwick Technologies, Inc in Newark, CA received a Paycheck Protection Loan of $1.76M through JPMorgan Chase Bank, National Association, which was approved in May, 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 February, 2021.
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, Cloudwick Technologies, Inc's 2019 payroll expenses are estimated to be at least $8.44M.
Based on their reported 86 jobs retained, this equals an estimated average yearly compensation of $98,097 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cloudwick Technologies, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,607,000
- Rent: $45,563
- Health Care: $70,000
- Debt Interest: $35,000
Business Information - Cloudwick Technologies, Inc in Newark, CA
39899 Balentine Dr.
Newark, CA 94560
Computer Systems Design Services
NAICS code 541512
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Newark
In the Newark area, 19 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 86) and received an average PPP loan of $302,991 (compared to this company's $1.76M).
Similar Nearby Businesses Who Received PPP Funding:
Appnet Global Inc
CSG It Solutions LLC
ARX Networks Corporation
Guild Systems Inc
United One Inc
Industry PPP Comparison Statistics
Nationwide, 31,382 businesses in the "Computer Systems Design Services" industry received a total of $4.35B 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 10 employees, 88% lower than Cloudwick Technologies, Inc's reported 86 employees, and received an average PPP loan of $138,748, 92% lower than this company's loan of $1.76M.
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Footnotes & Information
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