PPP Loan Data — Incept Corporation, Canton, OH
Incept Corporation is a sole proprietorship located at 4150 Belden Village St. Nw, Suite 205 in Canton, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,974,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 397 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Incept Corporation in Canton, OH received a Paycheck Protection Loan of $1.97M through PNC Bank, 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 May, 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, Incept Corporation's 2019 payroll expenses are estimated to be at least $9.48M.
Based on their reported 397 jobs retained, this equals an estimated average yearly compensation of $23,872 per employee1
Reported PPP Proceed Usage:
On the PPP application, Incept Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,974,400
Business Information - Incept Corporation in Canton, OH
4150 Belden Village St. Nw, Suite 205
Canton, OH 44718
Telemarketing Bureaus and Other Contact Centers
NAICS code 561422
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Canton
In the Canton area, 2 businesses in the "Telemarketing Bureaus and Other Contact Centers" industry received a PPP loan. These local businesses reported an average of 449 employees (compared to this company's 397) and received an average PPP loan of $2,776,607 (compared to this company's $1.97M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 2,166 businesses in the "Telemarketing Bureaus and Other Contact Centers" industry received a total of $324.66M 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 21 employees, 95% lower than Incept Corporation's reported 397 employees, and received an average PPP loan of $149,889, 92% lower than this company's loan of $1.97M.
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Footnotes & Information
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