PPP Loan Data — CNC Software Inc, Tolland, CT
CNC Software Inc is a corporation located at 671 Old Post Rd in Tolland, Connecticut that received a Coronavirus-related PPP loan from the SBA of $3,673,484.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
CNC Software Inc in Tolland, CT received a Paycheck Protection Loan of $3.67M through Bank of America, National Association, which was approved in May, 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, CNC Software Inc's 2019 payroll expenses are estimated to be at least $17.63M.
Based on their reported 199 jobs retained, this equals an estimated average yearly compensation of $88,607 per employee1
Reported PPP Proceed Usage:
On the PPP application, CNC Software Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,673,484
Business Information - CNC Software Inc in Tolland, CT
671 Old Post Rd
Tolland, CT 6084
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Tolland
In the Tolland area, 3 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 199) and received an average PPP loan of $1,238,238 (compared to this company's $3.67M).
Similar Nearby Businesses Who Received PPP Funding:
Morgan Information Proces
Industry PPP Comparison Statistics
Nationwide, 43,326 businesses in the "Custom Computer Programming Services" industry received a total of $6.67B 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, 95% lower than CNC Software Inc's reported 199 employees, and received an average PPP loan of $153,857, 96% lower than this company's loan of $3.67M.
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Footnotes & Information
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