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PPP Loan Data — Nestor Technologies Inc,
Edison, NJ
Nestor Technologies Inc
Entity: Corporation
Industry: Custom Computer Programming Services
Location: Edison, NJ
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Nestor Technologies Inc is a corporation located at 14 Traci Ln in Edison, New Jersey that received a Coronavirus-related PPP loan from the SBA of $101,600.00 in January, 2021.
$
PPP Loan Information
Loan #1811348301
Loan Size:
Jobs Retained:
9Loan Approved:
2021-01-19Loan Status:
Ongoing LoanLender:
Legacy BankNestor Technologies Inc in Edison, NJ received a Paycheck Protection Loan of $101,600 through Legacy Bank, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Nestor Technologies Inc's 2019 payroll expenses are estimated to be at least $487,680.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $54,187 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nestor Technologies Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $101,599
Business Information - Nestor Technologies Inc in Edison, NJ
14 Traci Ln
Edison, NJ 8817
Business Industry:
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Edison
In the Edison area, 70 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 9) and received an average PPP loan of $415,429 (compared to this company's $101,600).
Similar Nearby Businesses Who Received PPP Funding:
Radiance Informations LLC
Edison, NJ
Baanyan Software Services Inc
Edison, NJ
Comprehensive Healthcare Systems Inc
Edison, NJ
Radiant Software Solutions Inc
East Brunswick, NJ
GMP Solutions LLC
East Brunswick, NJ
Diaspark Inftoech Pvt LTD
Edison, NJ
Anjs Technologies LLC
Edison, NJ
EA Team Inc
Edison, NJ
Advitech LLC
Edison, NJ
Industry PPP Comparison Statistics
Nationwide, 43,425 businesses in the "Custom Computer Programming Services" industry received a total of $6.67B 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 10 employees, 11% higher than Nestor Technologies Inc's reported 9 employees, and received an average PPP loan of $153,496, 51% higher than this company's loan of $101,600.
Nestor Technologies Inc
Entity: Corporation
Industry: Custom Computer Programming Services
Location: Edison, NJ
Tweet This
•
Search All PPP Data
Nestor Technologies Inc is a corporation located at 14 Traci Ln in Edison, New Jersey that received a Coronavirus-related PPP loan from the SBA of $53,200.00 in April, 2020.
$
PPP Loan Information
Loan #7090247306
Loan Size:
Jobs Retained:
7Loan Approved:
2020-04-30Loan Status:
Ongoing LoanLender:
Legacy BankNestor Technologies Inc in Edison, NJ received a Paycheck Protection Loan of $53,200 through Legacy Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Nestor Technologies Inc's 2019 payroll expenses are estimated to be at least $255,360.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $36,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nestor Technologies Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $53,200
Business Information - Nestor Technologies Inc in Edison, NJ
14 Traci Ln
Edison, NJ 8817
Business Industry:
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Edison
In the Edison area, 70 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 7) and received an average PPP loan of $415,429 (compared to this company's $53,200).
Similar Nearby Businesses Who Received PPP Funding:
Radiance Informations LLC
Edison, NJ
Baanyan Software Services Inc
Edison, NJ
Comprehensive Healthcare Systems Inc
Edison, NJ
Radiant Software Solutions Inc
East Brunswick, NJ
GMP Solutions LLC
East Brunswick, NJ
Diaspark Inftoech Pvt LTD
Edison, NJ
Anjs Technologies LLC
Edison, NJ
EA Team Inc
Edison, NJ
Advitech LLC
Edison, NJ
Industry PPP Comparison Statistics
Nationwide, 43,425 businesses in the "Custom Computer Programming Services" industry received a total of $6.67B 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 10 employees, 43% higher than Nestor Technologies Inc's reported 7 employees, and received an average PPP loan of $153,496, 189% higher than this company's loan of $53,200.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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