PPP Loan Data — Conspect Services Inc, South Bend, IN
Conspect Services Inc is a subchapter s corporation located at 3702 W Sample St in South Bend, Indiana that received a Coronavirus-related PPP loan from the SBA of $46,700.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:1st Source Bank
Conspect Services Inc in South Bend, IN received a Paycheck Protection Loan of $46,700 through 1st Source Bank, 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 January, 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, Conspect Services Inc's 2019 payroll expenses are estimated to be at least $224,160.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,720 per employee1
Reported PPP Proceed Usage:
On the PPP application, Conspect Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,700
Business Information - Conspect Services Inc in South Bend, IN
3702 W Sample St
South Bend, IN 46619
Other Building Material Dealers
NAICS code 444190
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near South Bend
In the South Bend area, 4 businesses in the "Other Building Material Dealers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $27,050 (compared to this company's $46,700).
Similar Nearby Businesses Who Received PPP Funding:
Conspect Services Incorporated
South Bend, IN
The Floor Store Of South Bend Inc
South Bend, IN
Industry PPP Comparison Statistics
Nationwide, 11,057 businesses in the "Other Building Material Dealers" industry received a total of $1.4B 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 12 employees, 300% higher than Conspect Services Inc's reported 3 employees, and received an average PPP loan of $126,460, 171% higher than this company's loan of $46,700.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!