Diaspark Inftoech Pvt LTD is a limited liability company (LLC) located at 515 Plainfield Avenue Suite 1 in Edison, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,118,392.00 in April, 2020.

$ PPP Loan Information Loan #1681157210

Diaspark Inftoech Pvt LTD in Edison, NJ received a Paycheck Protection Loan of $3.12M through Manufacturers and Traders Trust Company, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 148 jobs reported as retained on the PPP application³. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 150. 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

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, Diaspark Inftoech Pvt LTD's 2019 payroll expenses are estimated to be at least $14.97M (not accounting for salary amounts > $100k).

Because the 148 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, Diaspark Inftoech Pvt LTD reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $3,076,320
• Utilities: $20,000
• Rent: $22,072

Business Information - Diaspark Inftoech Pvt LTD in Edison, NJ

Similar Companies near Edison

In the Edison area, 65 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 148) and received an average PPP loan of $438,915 (compared to this company's $3.12M).

Industry PPP Comparison Statistics

Nationwide, 38,818 businesses in the "Custom Computer Programming Services" industry received a total of $6,466,738,746.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 93% lower than Diaspark Inftoech Pvt LTD's reported 148 employees, and received an average PPP loan of $166,591, 95% lower than this company's loan of $3.12M.