PPP Loan Data — Microdata Group, Inc, Beverly, MA
Microdata Group, Inc
Entity: Subchapter S Corporation
Location: Beverly, MATweet This • Search All PPP Data
Microdata Group, Inc is a subchapter s corporation located at 100 Cummings Center Ste 146n in Beverly, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $46,900.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens Bank, National Association
Microdata Group, Inc in Beverly, MA received a Paycheck Protection Loan of $46,900 through Citizens Bank, National Association, which was approved in May, 2020.
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 May, 2021.
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, Microdata Group, Inc's 2019 payroll expenses are estimated to be at least $225,120.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $45,024 per employee1
Reported PPP Proceed Usage:
On the PPP application, Microdata Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,900
Business Information - Microdata Group, Inc in Beverly, MA
100 Cummings Center Ste 146n
Beverly, MA 1915
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Beverly
In the Beverly area, 27 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 5) and received an average PPP loan of $68,961 (compared to this company's $46,900).
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Industry PPP Comparison Statistics
Nationwide, 129,763 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.41B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, the same amount reported by Microdata Group, Inc and received an average PPP loan of $57,091, 22% higher than this company's loan of $46,900.
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