PPP Loan Data — Ierus Technologies, Inc, Huntsville, AL
Ierus Technologies, Inc
Industry: Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)
Location: Huntsville, ALTweet This • Search All PPP Data
Ierus Technologies, Inc is a corporation located at 2904 Westcorp Blvd Suite210 in Huntsville, Alabama that received a Coronavirus-related PPP loan from the SBA of $2,309,700.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Ierus Technologies, Inc in Huntsville, AL received a Paycheck Protection Loan of $2.31M through ServisFirst Bank, which was approved in April, 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, Ierus Technologies, Inc's 2019 payroll expenses are estimated to be at least $11.09M.
Based on their reported 180 jobs retained, this equals an estimated average yearly compensation of $61,592 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ierus Technologies, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,230,000
- Utilities: $9,000
- Rent: $70,700
Business Information - Ierus Technologies, Inc in Huntsville, AL
2904 Westcorp Blvd Suite210
Huntsville, AL 35805
Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)
NAICS code 541715
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Huntsville
In the Huntsville area, 15 businesses in the "Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)" industry received a PPP loan. These local businesses reported an average of 43 employees (compared to this company's 180) and received an average PPP loan of $540,166 (compared to this company's $2.31M).
Similar Nearby Businesses Who Received PPP Funding:
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Michael S Walker
Streamline Automation, LLC
Industry PPP Comparison Statistics
Nationwide, 4,934 businesses in the "Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)" industry received a total of $828.3M 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 11 employees, 94% lower than Ierus Technologies, Inc's reported 180 employees, and received an average PPP loan of $167,876, 93% lower than this company's loan of $2.31M.
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Footnotes & Information
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