PPP Loan Data — Immersion Consulting LLC, Annapolis, MD
Immersion Consulting LLC is a limited liability company (LLC) located at 2200 Somerville Road in Annapolis, Maryland that received a Coronavirus-related PPP loan from the SBA of $1,544,580.00 in May, 2020.
The company has reported itself as a male veteran owned business, and employed at least 96 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Immersion Consulting LLC in Annapolis, MD received a Paycheck Protection Loan of $1.54M through EagleBank, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Immersion Consulting LLC's 2019 payroll expenses are estimated to be at least $7.41M.
Based on their reported 96 jobs retained, this equals an estimated average yearly compensation of $77,229 per employee1
Reported PPP Proceed Usage:
On the PPP application, Immersion Consulting LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,544,580
Business Information - Immersion Consulting LLC in Annapolis, MD
2200 Somerville Road
Annapolis, MD 21401
Professional Employer Organizations
NAICS code 561330
Business Owner Demographics
Gender: Male Owned
Veteran Status: Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Annapolis
In the Annapolis area, 3 businesses in the "Professional Employer Organizations" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 96) and received an average PPP loan of $719,716 (compared to this company's $1.54M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 2,957 businesses in the "Professional Employer Organizations" industry received a total of $734.1M 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 27 employees, 72% lower than Immersion Consulting LLC's reported 96 employees, and received an average PPP loan of $248,260, 84% lower than this company's loan of $1.54M.
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Footnotes & Information
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