PPP Loan Data — IOS Acquisition, LLC, New York, NY
IOS Acquisition, LLC is a limited liability company (LLC) located at 555 Madison Ave in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,887,400.00 in April, 2020.
$ PPP Loan Information
IOS Acquisition, LLC in New York, NY received a Paycheck Protection Loan of $2.89M through PROSPERITY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, IOS Acquisition, LLC's total 2019 payroll expenses were approximately $13.86M in order to qualify for the PPP loan amount received.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $55,438 per employee1.
Business Information - IOS Acquisition, LLC in New York, NY
555 Madison Ave
New York, NY 10022
Professional Employer Organizations (NAICS code 561330)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-12
Similar Companies near New York
In the New York area, 4 businesses in the "Professional Employer Organizations" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 250) and received an average PPP loan of $897,250 (compared to this company's $2.89M).
Similar Nearby Businesses Who Received PPP Funding:
New York, NY
St Marks World Acquisition, LLC
New York, NY
HCM Staffing & Consulting Group, LLC
New York, NY
Industry PPP Comparison Statistics
Nationwide, 1,298 businesses in the "Professional Employer Organizations" industry received a total of $544,321,819.00 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 38 employees, 85% lower than IOS Acquisition, LLC's reported 250 employees, and received an average PPP loan of $419,354, 85% lower than this company's loan of $2.89M.
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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