PPP Loan Data — Open To Close, Inc, Boise, ID
Open To Close, Inc is a corporation located at 671 E Riverpark Lane #105 in Boise, Idaho that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Idaho Central CU
Open To Close, Inc in Boise, ID received a Paycheck Protection Loan of $25,000 through Idaho Central CU, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. 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
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, Open To Close, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Open To Close, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Open To Close, Inc in Boise, ID
671 E Riverpark Lane #105
Boise, ID 83706
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Boise
In the Boise area, 9 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 2) and received an average PPP loan of $119,635 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Red Label Sports Inc
Micronet Systems Inc
Bison Data LLC
Straight Shot Solutions, Inc
Industry PPP Comparison Statistics
Nationwide, 43,326 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, 400% higher than Open To Close, Inc's reported 2 employees, and received an average PPP loan of $153,857, 515% higher than this company's loan of $25,000.
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Footnotes & Information
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