Flentis Corporation is a corporation located at 3523 45th St Suite 100 in Fargo, North Dakota that received a Coronavirus-related PPP loan from the SBA of $37,500.00 in May, 2020.

$ PPP Loan Information Loan #1077897409

Flentis Corporation in Fargo, ND received a Paycheck Protection Loan of $37,500 through TD Bank, National Association, which was approved in May, 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 1 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 2. 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, Flentis Corporation's 2019 payroll expenses are estimated to be at least $180,000 (not accounting for salary amounts > $100k).

Because the 1 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, Flentis Corporation reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $37,500

Business Information - Flentis Corporation in Fargo, ND

Similar Companies near Fargo

In the Fargo area, 11 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 1) and received an average PPP loan of $99,825 (compared to this company's $37,500).

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, 1000% higher than Flentis Corporation's reported 1 employees, and received an average PPP loan of $166,591, 344% higher than this company's loan of $37,500.