PPP Loan Data — Milsoft Utility Solutions, Inc, Abilene, TX
Milsoft Utility Solutions, Inc
Location: Abilene, TXTweet This • Search All PPP Data
Milsoft Utility Solutions, Inc is a corporation located at 4400 Buffalo Gap Rd Suite 5150 in Abilene, Texas that received a Coronavirus-related PPP loan from the SBA of $2,104,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 102 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Milsoft Utility Solutions, Inc in Abilene, TX received a Paycheck Protection Loan of $2.1M through Citizens 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, Milsoft Utility Solutions, Inc's 2019 payroll expenses are estimated to be at least $10.1M.
Based on their reported 102 jobs retained, this equals an estimated average yearly compensation of $99,012 per employee1
Reported PPP Proceed Usage:
On the PPP application, Milsoft Utility Solutions, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,104,000
Business Information - Milsoft Utility Solutions, Inc in Abilene, TX
4400 Buffalo Gap Rd Suite 5150
Abilene, TX 79606
Regulation and Administration of Communications, Electric, Gas, and Other Utilities
NAICS code 926130
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 475 businesses in the "Regulation and Administration of Communications, Electric, Gas, and Other Utilities" industry received a total of $59.66M 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 9 employees, 91% lower than Milsoft Utility Solutions, Inc's reported 102 employees, and received an average PPP loan of $125,606, 94% lower than this company's loan of $2.1M.
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Footnotes & Information
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