PPP Loan Data — Infernored Technology, Inc., Blacksburg, VA
Infernored Technology, Inc. is a subchapter s corporation located at 125 N. Main St in Blacksburg, Virginia that received a Coronavirus-related PPP loan from the SBA of $472,000.00 in April, 2020.
The company has reported itself as a White male owned business.
$ PPP Loan Information
Jobs Retained:0 Unreported
Lender:THE FIRST BANK AND TRUST COMPANY
Infernored Technology, Inc. received a Paycheck Protection Loan of $472,000 through THE FIRST BANK AND TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Infernored Technology, Inc.'s total 2019 payroll expenses were approximately $2.27M in order to qualify for the PPP loan amount received.
Unlike most businesses, Infernored Technology, Inc.'s PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Infernored Technology, Inc. in Blacksburg, VA
125 N. Main St
Blacksburg, VA 24060
Custom Computer Programming Services (NAICS code 541511)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: VA-09
Similar Companies near Blacksburg
In the Blacksburg area, 5 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 0) and received an average PPP loan of $1,294,758 (compared to this company's $472,000).
Similar Nearby Businesses Who Received PPP Funding:
Harmonia Holdings Group, LLC
Cowden Technologies, LLC
Industry PPP Comparison Statistics
Nationwide, 24,641 businesses in the "Custom Computer Programming Services" industry received a total of $4,943,790,485.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, and received an average PPP loan of $200,633, 57% lower than this company's loan of $472,000.
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.
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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