PPP Loan Data — Givhero, Inc, Gaithersburg, MD
Givhero, Inc is a corporation located at 9841 Washingtonian Blvd Ste 200 in Gaithersburg, Maryland that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Givhero, Inc in Gaithersburg, MD received a Paycheck Protection Loan of $25,000 through Bank of America, National Association, which was approved in May, 2020.
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, Givhero, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Givhero, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Givhero, Inc in Gaithersburg, MD
9841 Washingtonian Blvd Ste 200
Gaithersburg, MD 20878
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Gaithersburg
In the Gaithersburg area, 63 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 2) and received an average PPP loan of $179,900 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Northstar Group, Inc
Client Software Services LLC
Boost Labs LLC
North Potomac, MD
Lattice Group, Inc
Rent Control Consultants Inc
Synergy Software Systems Inc
Industry PPP Comparison Statistics
Nationwide, 43,326 businesses in the "Custom Computer Programming Services" industry received a total of $6.67B 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, 400% higher than Givhero, Inc's reported 2 employees, and received an average PPP loan of $153,857, 515% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!