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PPP Loan Data — HIT Mobile, Inc., Costa Mesa, CA

SBA PPP loan data, payroll data, and salaries for HIT Mobile, Inc.
CA

HIT Mobile, Inc.

Entity: Subchapter S Corporation

Industry: Wireless Telecommunications Carriers (except Satellite)

Location: Costa Mesa, CA

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HIT Mobile, Inc. is a subchapter s corporation located at 3200 Park Center Dr. #200 in Costa Mesa, California that received a Coronavirus-related PPP loan from the SBA of $4,216,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.22M

Jobs Retained:

500

Loan Approved:

2020-04-16

Lender:

ZIONS BANK, A DIVISION OF

HIT Mobile, Inc. in Costa Mesa, CA received a Paycheck Protection Loan of $4.22M through ZIONS BANK, A DIVISION OF, which was approved in April, 2020.

Based on standard PPP eligibility rules, HIT Mobile, Inc.'s total 2019 payroll expenses were approximately $20.24M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $40,476 per employee1.

Because the loan received by HIT Mobile, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - HIT Mobile, Inc. in Costa Mesa, CA

HIT Mobile, Inc.
3200 Park Center Dr. #200
Costa Mesa, CA 92626

Business Industry

Wireless Telecommunications Carriers (except Satellite) (NAICS code 517312)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-48

Industry PPP Comparison Statistics

Nationwide, 2,003 businesses in the "Wireless Telecommunications Carriers (except Satellite)" industry received a total of $261,156,310.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 13 employees, 97% lower than HIT Mobile, Inc.'s reported 500 employees, and received an average PPP loan of $130,383, 97% lower than this company's loan of $4.22M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/hit-mobile-inc-costa-mesa-ca