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PPP Loan Data — Involta, LLC, Cedar Rapids, IA

SBA PPP loan data, payroll data, and salaries for Involta, LLC
IA

Involta, LLC

Entity: Limited Liability Company (LLC)

Industry: Other Scientific and Technical Consulting Services

Location: Cedar Rapids, IA

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Involta, LLC is a limited liability company (LLC) located at 460 12th Ave Se in Cedar Rapids, Iowa that received a Coronavirus-related PPP loan from the SBA of $3,959,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.96M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-10

Lender:

BANKERS TRUST COMPANY

Involta, LLC in Cedar Rapids, IA received a Paycheck Protection Loan of $3.96M through BANKERS TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Involta, LLC's total 2019 payroll expenses were approximately $19.01M in order to qualify for the PPP loan amount received.

Unlike most businesses, Involta, LLC'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.

Because the loan received by Involta, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Involta, LLC in Cedar Rapids, IA

Involta, LLC
460 12th Ave Se
Cedar Rapids, IA 52401

Business Industry

Other Scientific and Technical Consulting Services (NAICS code 541690)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: IA-01

Similar Companies near Cedar Rapids

In the Cedar Rapids area, 2 businesses in the "Other Scientific and Technical Consulting 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 $1,986,154 (compared to this company's $3.96M).

Similar Nearby Businesses Who Received PPP Funding:

Optimized Scientific Solutions LLC
Cedar Rapids, IA

$12,708 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 14,293 businesses in the "Other Scientific and Technical Consulting Services" industry received a total of $1,499,073,773.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 7 employees, and received an average PPP loan of $104,882, 97% lower than this company's loan of $3.96M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/involta-llc-cedar-rapids-ia