PPP Loan Data — Dvmd LLC DBA Intellitec College, Colorado Springs, CO
Dvmd LLC DBA Intellitec College is a limited liability company (LLC) located at 2504 East Pikes Peak Ave Ste 305 in Colorado Springs, Colorado that received a Coronavirus-related PPP loan from the SBA of $1,667,784.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least 183 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Dvmd LLC DBA Intellitec College in Colorado Springs, CO received a Paycheck Protection Loan of $1.67M through Wells Fargo Bank, National Association, which was approved in May, 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 March, 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, Dvmd LLC DBA Intellitec College's 2019 payroll expenses are estimated to be at least $8.01M.
Based on their reported 183 jobs retained, this equals an estimated average yearly compensation of $43,745 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dvmd LLC DBA Intellitec College reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,667,784
Business Information - Dvmd LLC DBA Intellitec College in Colorado Springs, CO
2504 East Pikes Peak Ave Ste 305
Colorado Springs, CO 80909
Other Technical and Trade Schools
NAICS code 611519
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,180 businesses in the "Other Technical and Trade Schools" industry received a total of $425.39M 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, 95% lower than Dvmd LLC DBA Intellitec College's reported 183 employees, and received an average PPP loan of $82,122, 95% lower than this company's loan of $1.67M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!