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PPP Loan Data — Ioxperts Inc, Cambridge, MA

SBA PPP loan data, payroll data, and salaries for Ioxperts Inc
MA

Ioxperts Inc

Entity: Subchapter S Corporation

Industry: Custom Computer Programming Services

Location: Cambridge, MA

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Ioxperts Inc is a subchapter s corporation located in Cambridge, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $5,000.00 in February, 2021.

The company has reported itself as an American indian or alaska native male owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #6343378409

Loan Size:

$5,000

Jobs Retained:

1

Loan Approved:

2021-02-10

Loan Status:

Paid in Full or Forgiven

Lender:

Citizens Bank, National Association

Ioxperts Inc in Cambridge, MA received a Paycheck Protection Loan of $5,000 through Citizens Bank, National Association, which was approved in February, 2021.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in August, 2022.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Ioxperts Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $4,995
  • Utilities: $1

Business Information - Ioxperts Inc in Cambridge, MA

Ioxperts Inc
Cambridge, MA
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Custom Computer Programming Services
NAICS code 541511

Business Owner Demographics

Race: American Indian or Alaska Native

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Middlesex County, MA — SBA Office 0101 — Congressional District: MA-07

Similar Companies near Cambridge

In the Cambridge area, 41 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 1) and received an average PPP loan of $302,792 (compared to this company's $5,000).

Industry PPP Comparison Statistics

Nationwide, 42,870 businesses in the "Custom Computer Programming Services" industry received a total of $6.65B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 10 employees, 900% higher than Ioxperts Inc's reported 1 employees, and received an average PPP loan of $155,051, 3001% higher than this company's loan of $5,000.

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.

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Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/ioxperts-inc-cambridge-ma