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PPP Loan Data — Nemo It Solutions Inc, Richardson, TX

SBA PPP loan data, payroll data, and salaries for Nemo It Solutions Inc
TX

Nemo It Solutions Inc

Entity: Subchapter S Corporation

Industry:

Location: Richardson, TX

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Nemo It Solutions Inc is a subchapter s corporation located at 801 E Campbell Rd in Richardson, Texas that received a Coronavirus-related PPP loan from the SBA of $3,662,274.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 203 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.66M

Jobs Retained:

203

Loan Approved:

2020-04-06

Lender:

TEXAS BANK AND TRUST COMPANY

Nemo It Solutions Inc in Richardson, TX received a Paycheck Protection Loan of $3.66M through TEXAS BANK AND TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Nemo It Solutions Inc's total 2019 payroll expenses were approximately $17.58M in order to qualify for the PPP loan amount received.

Based on their reported 203 jobs retained, this equals an estimated average yearly compensation of $86,596 per employee1.

Because the loan received by Nemo It Solutions 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 - Nemo It Solutions Inc in Richardson, TX

Nemo It Solutions Inc
801 E Campbell Rd
Richardson, TX 75081

Business Industry

(NAICS code )

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: TX-32

Industry PPP Comparison Statistics

Nationwide, 5,156,850 businesses in the "" 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, 95% lower than Nemo It Solutions Inc's reported 203 employees, and received an average PPP loan of $101,409, 97% lower than this company's loan of $3.66M.

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.

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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/nemo-it-solutions-inc-richardson-tx