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PPP Loan Data — Insight Technology Solutions Inc.,
Bowie, MD
Insight Technology Solutions Inc.
Entity: Subchapter S Corporation
Industry: All Other Professional, Scientific, and Technical Services
Location: Bowie, MD
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Insight Technology Solutions Inc. is a subchapter s corporation located at 17251 Melford Blvd Ste 100 in Bowie, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,778,610.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 175 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
175Loan Approved:
2020-04-10Lender:
WESBANCO BANK, INC.Insight Technology Solutions Inc. in Bowie, MD received a Paycheck Protection Loan of $2.78M through WESBANCO BANK, INC., which was approved in April, 2020.
Based on standard PPP eligibility rules, Insight Technology Solutions Inc.'s total 2019 payroll expenses were approximately $13.34M in order to qualify for the PPP loan amount received.
Based on their reported 175 jobs retained, this equals an estimated average yearly compensation of $76,213 per employee1.
Business Information - Insight Technology Solutions Inc. in Bowie, MD
17251 Melford Blvd Ste 100
Bowie, MD 20715
Business Industry
All Other Professional, Scientific, and Technical Services (NAICS code 541990)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: FEMALE OWNED
Veteran Status: Unreported
Congressional District: MD-05Similar Companies near Bowie
In the Bowie area, 12 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 175) and received an average PPP loan of $249,837 (compared to this company's $2.78M).
Similar Nearby Businesses Who Received PPP Funding:
Ikeozi Professional Services LLC
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Bowie, MD
Anngia Marie Wood
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Broad Reach Consulting, Inc.
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Thrifty Fix LLC
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Kendra Langley
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Florence Vordjorbe
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Jonny Insurance Agency Inc.
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Industry PPP Comparison Statistics
Nationwide, 63,722 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $4,746,522,934.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 97% lower than Insight Technology Solutions Inc.'s reported 175 employees, and received an average PPP loan of $74,488, 97% lower than this company's loan of $2.78M.
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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