PPP Loan Data — Logical Concepts, Inc., Indianapolis, IN
Logical Concepts, Inc. is a subchapter s corporation located at 203 West Morris St in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $427,234.00 in July, 2020.
The company has reported itself as a White male owned business, and employed at least 38 people during the applicable loan loan period.
$ PPP Loan Information
Lender:GREENFIELD BANKING COMPANY
Logical Concepts, Inc. received a Paycheck Protection Loan of $427,234 through GREENFIELD BANKING COMPANY, which was approved in July, 2020.
Based on standard PPP eligibility rules, Logical Concepts, Inc.'s total 2019 payroll expenses were approximately $2.05M in order to qualify for the PPP loan amount received.
Based on their reported 38 jobs retained, this equals an estimated average yearly compensation of $53,966 per employee1.
Business Information - Logical Concepts, Inc. in Indianapolis, IN
203 West Morris St
Indianapolis, IN 46225
Electronics Stores (NAICS code 443142)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: IN-07
Similar Companies near Indianapolis
In the Indianapolis area, 3 businesses in the "Electronics Stores" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 38) and received an average PPP loan of $1,075,636 (compared to this company's $427,234).
Similar Nearby Businesses Who Received PPP Funding:
Scale Computing, Inc.
Industry PPP Comparison Statistics
Nationwide, 7,570 businesses in the "Electronics Stores" industry received a total of $593,424,720.00 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 8 employees, 79% lower than Logical Concepts, Inc.'s reported 38 employees, and received an average PPP loan of $78,392, 82% lower than this company's loan of $427,234.
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.
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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