PPP Loan Data — Coda Global LLC, Southlake, TX
Coda Global LLC is a limited liability company (LLC) located at 550 Reserve Street, Suite 190 in Southlake, Texas that received a Coronavirus-related PPP loan from the SBA of $2,007,982.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Silicon Valley Bank
Coda Global LLC in Southlake, TX received a Paycheck Protection Loan of $2.01M through Silicon Valley Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 96. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Coda Global LLC's 2019 payroll expenses are estimated to be at least $9.64M (not accounting for salary amounts > $100k).
Because the 52 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Coda Global LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,007,982
Business Information - Coda Global LLC in Southlake, TX
550 Reserve Street, Suite 190
Southlake, TX 76092
Other Computer Related Services
NAICS code 541519
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Southlake
In the Southlake area, 10 businesses in the "Other Computer Related Services" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 52) and received an average PPP loan of $248,795 (compared to this company's $2.01M).
Similar Nearby Businesses Who Received PPP Funding:
K-Zone Technologies, Inc
E-Rate Exchange LLC DBA E2E Exchange LLC
Agroha Technologies LLC
Glic Tech North America
Third Millennium Productions Inc
E-Rate Exchange LLC DBA
Glic Tech North America LLC
Industry PPP Comparison Statistics
Nationwide, 25,371 businesses in the "Other Computer Related Services" industry received a total of $3.1B 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 8 employees, 85% lower than Coda Global LLC's reported 52 employees, and received an average PPP loan of $122,066, 94% lower than this company's loan of $2.01M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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