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PPP Loan Data — MIM Software Inc, Beachwood, OH

SBA PPP loan data, payroll data, and salaries for MIM Software Inc
OH

MIM Software Inc

Entity: Corporation

Industry: Software Publishers

Location: Beachwood, OH

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MIM Software Inc is a corporation located at 25800 Science Park Dr in Beachwood, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,913,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.91M

Jobs Retained:

167

Loan Approved:

2020-04-15

Lender:

PNC BANK, NATIONAL ASSOCIATION

MIM Software Inc received a Paycheck Protection Loan of $2.91M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, MIM Software Inc's total 2019 payroll expenses were approximately $13.98M in order to qualify for the PPP loan amount received.

Based on their reported 167 jobs retained, this equals an estimated average yearly compensation of $83,730 per employee1.

Because the loan received by MIM Software Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - MIM Software Inc in Beachwood, OH

MIM Software Inc
25800 Science Park Dr
Beachwood, OH 44122

Business Industry

Software Publishers (NAICS code 511210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-11

Similar Companies near Beachwood

In the Beachwood area, 3 businesses in the "Software Publishers" industry received a PPP loan. These local businesses reported an average of 64 employees (compared to this company's 167) and received an average PPP loan of $1,146,029 (compared to this company's $2.91M).

Industry PPP Comparison Statistics

Nationwide, 8,232 businesses in the "Software Publishers" industry received a total of $2,105,805,320.00 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 13 employees, 92% lower than MIM Software Inc's reported 167 employees, and received an average PPP loan of $255,807, 91% lower than this company's loan of $2.91M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/mim-software-inc-beachwood-oh