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PPP Loan Data — Oncore LLC,
Fargo, ND
Oncore LLC
Entity: Limited Liability Company (LLC)
Industry: Software Publishers
Location: Fargo, ND
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Oncore LLC is a limited liability company (LLC) located at 325 7th St S Ste 300 in Fargo, North Dakota that received a Coronavirus-related PPP loan from the SBA of $172,515.00 in February, 2021.
$
PPP Loan Information
Loan #4183058506
Loan Size:
Jobs Retained:
9Loan Approved:
2021-02-25Loan Status:
Active Un-DisbursedLender:
Vantage BankOncore LLC in Fargo, ND received a Paycheck Protection Loan of $172,515 through Vantage Bank, which was approved in February, 2021.
While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $172,515 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in February, 2021.
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, Oncore LLC's 2019 payroll expenses are estimated to be at least $828,072.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $92,008 per employee1
Reported PPP Proceed Usage:
On the PPP application, Oncore LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $172,514
Business Information - Oncore LLC in Fargo, ND
325 7th St S Ste 300
Fargo, ND 58103
Business Industry:
Software Publishers
NAICS code 511210
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 Fargo
In the Fargo area, 15 businesses in the "Software Publishers" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 9) and received an average PPP loan of $337,849 (compared to this company's $172,515).
Similar Nearby Businesses Who Received PPP Funding:
Inceptive Systems, LLC
Fargo, ND
Omnibyte Technology Inc
Fargo, ND
Omnibyte Technology
Fargo, ND
Chenpo, LLC
Fargo, ND
Mycreativeshop, Inc
Fargo, ND
Business Software Inc
Fargo, ND
Project Phoenix LLC
Fargo, ND
81Designs, Inc
Fargo, ND
Project Phoenix
Fargo, ND
Industry PPP Comparison Statistics
Nationwide, 12,401 businesses in the "Software Publishers" industry received a total of $2.66B 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 13 employees, 44% higher than Oncore LLC's reported 9 employees, and received an average PPP loan of $214,589, 24% higher than this company's loan of $172,515.
Oncore, LLC
Entity: Limited Liability Company (LLC)
Industry: Custom Computer Programming Services
Location: Fargo, ND
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Oncore, LLC is a limited liability company (LLC) located at 325 7th St. S. #300 in Fargo, North Dakota that received a Coronavirus-related PPP loan from the SBA of $172,500.00 in April, 2020.
$
PPP Loan Information
Loan #4943507006
Loan Size:
Jobs Retained:
9Loan Approved:
2020-04-04Loan Status:
Ongoing LoanLender:
Vantage BankOncore, LLC in Fargo, ND received a Paycheck Protection Loan of $172,500 through Vantage 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, Oncore, LLC's 2019 payroll expenses are estimated to be at least $828,000.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $92,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Oncore, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $172,500
Business Information - Oncore, LLC in Fargo, ND
325 7th St. S. #300
Fargo, ND 58103
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: Y
Rural / Urban: Urban
Similar Companies near Fargo
In the Fargo area, 17 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 9) and received an average PPP loan of $269,575 (compared to this company's $172,500).
Similar Nearby Businesses Who Received PPP Funding:
Neitzke Consulting LLC
Fargo, ND
Botlink, LLC
Fargo, ND
Razor Tracking Inc
Fargo, ND
Abercrombie Consulting
Fargo, ND
Sycorr Inc
Fargo, ND
Flentis Corporation
Fargo, ND
Zulafly, Inc
Fargo, ND
Avenue Right, Inc
Fargo, ND
81Designs Inc
Fargo, ND
Industry PPP Comparison Statistics
Nationwide, 38,818 businesses in the "Custom Computer Programming Services" industry received a total of $6.47B 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 11 employees, 22% higher than Oncore, LLC's reported 9 employees, and received an average PPP loan of $166,647, 3% lower than this company's loan of $172,500.
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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