PPP Loan Data — Cogent Infotech Corporation, Pittsburgh, PA
Cogent Infotech Corporation is a corporation located at 1035 Boyce Rd Suite 108 in Pittsburgh, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,750,900.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 162 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank of Pennsylvania
Cogent Infotech Corporation in Pittsburgh, PA received a Paycheck Protection Loan of $1.75M through First National Bank of Pennsylvania, 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 June, 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, Cogent Infotech Corporation's 2019 payroll expenses are estimated to be at least $8.4M.
Based on their reported 162 jobs retained, this equals an estimated average yearly compensation of $51,879 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cogent Infotech Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,750,900
Business Information - Cogent Infotech Corporation in Pittsburgh, PA
1035 Boyce Rd Suite 108
Pittsburgh, PA 15241
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 Pittsburgh
In the Pittsburgh area, 3 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 162) and received an average PPP loan of $674,567 (compared to this company's $1.75M).
Similar Nearby Businesses Who Received PPP Funding:
Flickinger & Associates, LLC
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, 94% lower than Cogent Infotech Corporation's reported 162 employees, and received an average PPP loan of $138,748, 92% lower than this company's loan of $1.75M.
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Footnotes & Information
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