PPP Loan Data — Micronet It Solutions, Inc, Montgomery, AL
Micronet It Solutions, Inc is a subchapter s corporation located at 8415 Crossland Loop in Montgomery, Alabama that received a Coronavirus-related PPP loan from the SBA of $3,116,674.00 in May, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Micronet It Solutions, Inc in Montgomery, AL received a Paycheck Protection Loan of $3.12M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Micronet It Solutions, Inc's total 2019 payroll expenses were approximately $14.96M in order to qualify for the PPP loan amount received.
Based on their reported 181 jobs retained, this equals an estimated average yearly compensation of $82,652 per employee1.
Business Information - Micronet It Solutions, Inc in Montgomery, AL
8415 Crossland Loop
Montgomery, AL 36117
Unknown (NAICS code 0)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: AL-03
Similar Companies near Montgomery
In the Montgomery area, 1,589 businesses in the "Unknown" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 181) and received an average PPP loan of $103,465 (compared to this company's $3.12M).
Similar Nearby Businesses Who Received PPP Funding:
Montgomery Area Nontraditional
Montgomery Fresh LLC DBA Salad Express
Nextar AL Inc
Exceptional Tax Services LLC
Century United Methodist Church
Tracye Sadler Blackwell
Industry PPP Comparison Statistics
Nationwide, 5,156,850 businesses in the "Unknown" industry received a total of $522,949,858,572.00 in PPP loans. These businesses account for 100% of total PPP applications submitted, and received 100% of the total PPP funding allocated.
PPP recipients in this industry report an average of 10 employees, 94% lower than Micronet It Solutions, Inc's reported 181 employees, and received an average PPP loan of $101,409, 97% lower than this company's loan of $3.12M.
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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