PPP Loan Data — Higherechelon, Inc, Huntsville, AL
Higherechelon, Inc is a corporation located at 101 Lowe Ave Se Suite 3b in Huntsville, Alabama that received a Coronavirus-related PPP loan from the SBA of $1,913,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Higherechelon, Inc in Huntsville, AL received a Paycheck Protection Loan of $1.91M through ServisFirst Bank, 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, Higherechelon, Inc's 2019 payroll expenses are estimated to be at least $9.19M.
Based on their reported 150 jobs retained, this equals an estimated average yearly compensation of $61,242 per employee1
Reported PPP Proceed Usage:
On the PPP application, Higherechelon, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,904,100
- Utilities: $400
- Rent: $9,300
Business Information - Higherechelon, Inc in Huntsville, AL
101 Lowe Ave Se Suite 3b
Huntsville, AL 35801
Other Management Consulting Services
NAICS code 541618
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Huntsville
In the Huntsville area, 23 businesses in the "Other Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 150) and received an average PPP loan of $108,422 (compared to this company's $1.91M).
Similar Nearby Businesses Who Received PPP Funding:
Neurology Consultants Of Hunstville PC
Decisive Intelligence, Inc
Missile & Space Integration Inc
John Irby & Associates Inc
Avett Solutions Inc
Hammonds Consulting LLC
Michael's Cabinets Inc
Diversified Onsite Consultants LLC
Industry PPP Comparison Statistics
Nationwide, 84,014 businesses in the "Other Management Consulting Services" industry received a total of $3.74B 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 4 employees, 97% lower than Higherechelon, Inc's reported 150 employees, and received an average PPP loan of $44,524, 98% lower than this company's loan of $1.91M.
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Footnotes & Information
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