PPP Loan Data — Info Tech, Inc, Gainesville, FL
Info Tech, Inc is a subchapter s corporation located at 2970 Sw 50th Terrace in Gainesville, Florida that received a Coronavirus-related PPP loan from the SBA of $5,569,147.00 in April, 2020.
$ PPP Loan Information
Info Tech, Inc in Gainesville, FL received a Paycheck Protection Loan of $5.57M through BBVA USA, which was approved in April, 2020.
Based on standard PPP eligibility rules, Info Tech, Inc's total 2019 payroll expenses were approximately $26.73M in order to qualify for the PPP loan amount received.
Based on their reported 303 jobs retained, this equals an estimated average yearly compensation of $88,224 per employee1.
Business Information - Info Tech, Inc in Gainesville, FL
2970 Sw 50th Terrace
Gainesville, FL 32608
All Other Personal Services (NAICS code 812990)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: FL-03
Similar Companies near Gainesville
In the Gainesville area, 19 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 303) and received an average PPP loan of $314,759 (compared to this company's $5.57M).
Similar Nearby Businesses Who Received PPP Funding:
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Future Azulene, Inc.
Industry PPP Comparison Statistics
Nationwide, 73,988 businesses in the "All Other Personal Services" industry received a total of $2,458,516,421.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 99% lower than Info Tech, Inc's reported 303 employees, and received an average PPP loan of $33,229, 99% lower than this company's loan of $5.57M.
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, and is published unmodified, as provided by the SBA.
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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