PPP Loan Data — Constellation Software Engineering Corp, Annapolis, MD
Constellation Software Engineering Corp is a corporation located at 180 Admiral Cochrane Dr Ste. 230 in Annapolis, Maryland that received a Coronavirus-related PPP loan from the SBA of $1,598,506.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Constellation Software Engineering Corp in Annapolis, MD received a Paycheck Protection Loan of $1.6M through Truist Bank d/b/a Branch Banking & Trust Co, 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 April, 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, Constellation Software Engineering Corp's 2019 payroll expenses are estimated to be at least $7.67M.
Based on their reported 98 jobs retained, this equals an estimated average yearly compensation of $78,294 per employee1
Reported PPP Proceed Usage:
On the PPP application, Constellation Software Engineering Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,598,506
Business Information - Constellation Software Engineering Corp in Annapolis, MD
180 Admiral Cochrane Dr Ste. 230
Annapolis, MD 21401
NAICS code 511210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Annapolis
In the Annapolis area, 11 businesses in the "Software Publishers" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 98) and received an average PPP loan of $512,755 (compared to this company's $1.6M).
Similar Nearby Businesses Who Received PPP Funding:
South River Technologies, Inc
Include Software Corporation
Automation Dynamics Inc
Nimble Co., LLC DBA Purview
Orbis Technologies, Inc
Link Labs Inc
Industry PPP Comparison Statistics
Nationwide, 13,466 businesses in the "Software Publishers" industry received a total of $2.73B 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 13 employees, 87% lower than Constellation Software Engineering Corp's reported 98 employees, and received an average PPP loan of $202,819, 87% lower than this company's loan of $1.6M.
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Footnotes & Information
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