PPP Loan Data — IXP Corporation, Princeton,, NJ
IXP Corporation is a corporation located at 103 Main Street, Suite 100 in Princeton,, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,978,450.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Santander Bank, National Association
IXP Corporation in Princeton,, NJ received a Paycheck Protection Loan of $1.98M through Santander Bank, National Association, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, IXP Corporation's 2019 payroll expenses are estimated to be at least $9.5M.
Based on their reported 177 jobs retained, this equals an estimated average yearly compensation of $53,653 per employee1
Reported PPP Proceed Usage:
On the PPP application, IXP Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,978,450
Business Information - IXP Corporation in Princeton,, NJ
103 Main Street, Suite 100
Princeton,, NJ 8540
All Other Support Services
NAICS code 561990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Princeton,
In the Princeton, area, 15 businesses in the "All Other Support Services" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 177) and received an average PPP loan of $271,665 (compared to this company's $1.98M).
Similar Nearby Businesses Who Received PPP Funding:
Pharmaceutical Sourcing Partners, Inc
Hvrf Enterprises, LLC
Princeton Global Services Inc
No Guess Work
Princeton Technology Partners Inc
Industry PPP Comparison Statistics
Nationwide, 33,705 businesses in the "All Other Support Services" industry received a total of $1.71B 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 7 employees, 96% lower than IXP Corporation's reported 177 employees, and received an average PPP loan of $50,635, 97% lower than this company's loan of $1.98M.
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Footnotes & Information
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