Ilink Systems, Inc in Bothell, WA - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Ilink Systems, Inc, Bothell, WA

Ilink Systems, Inc

Entity: Corporation

Industry: Custom Computer Programming Services

Location: Bothell, WA

Ilink Systems, Inc is a corporation located at 18912 North Creek Pkwy Ste 208 in Bothell, Washington that received a Coronavirus-related PPP loan from the SBA of $2,568,230.00 in April, 2020.

$ PPP Loan Information
Loan #7045847310

Loan Size:

$2.57M

Jobs Retained:

138

Loan Approved:

2020-04-30

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Ilink Systems, Inc in Bothell, WA received a Paycheck Protection Loan of $2.57M through Bank of America, National Association, 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 July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

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, Ilink Systems, Inc's 2019 payroll expenses are estimated to be at least $12.33M.

Based on their reported 138 jobs retained, this equals an estimated average yearly compensation of $89,330 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Ilink Systems, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $2,568,230

Because the loan received by Ilink Systems, 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 - Ilink Systems, Inc in Bothell, WA

Ilink Systems, Inc
18912 North Creek Pkwy Ste 208
Bothell, WA 98011

Business Industry:
Custom Computer Programming Services
NAICS code 541511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

King County, WA — SBA Office 1013 — Congressional District: WA-01

Similar Companies near Bothell

In the Bothell area, 31 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 138) and received an average PPP loan of $117,372 (compared to this company's $2.57M).

Similar Nearby Businesses Who Received PPP Funding:

TC Business Solutions LLC
Bothell, WA

$20,832 PPP Loan

Mighty Coders
Bothell, WA

$35,000 PPP Loan

Curran Design Inc
Mill Creek, WA

$9,800 PPP Loan

Ellipticbit LLC
Mill Creek, WA

$14,900 PPP Loan

XG Information Technology Corp
Bothell, WA

$8,332 PPP Loan

Trendesigns
Bothell, WA

$9,859 PPP Loan

Veramine Inc
Mill Creek, WA

$109,002 PPP Loan

Sportsoft Incorporated
Bothell, WA

$19,500 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 42,875 businesses in the "Custom Computer Programming Services" industry received a total of $6.65B 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, 93% lower than Ilink Systems, Inc's reported 138 employees, and received an average PPP loan of $155,111, 94% lower than this company's loan of $2.57M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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