PPP Loan Data — PAX Technology Inc, Jacksonville, FL
PAX Technology Inc is a corporation located at 9838 Old Baymeadows in Jacksonville, Florida that received a Coronavirus-related PPP loan from the SBA of $2,191,773.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
PAX Technology Inc in Jacksonville, FL received a Paycheck Protection Loan of $2.19M through Bank of America, National Association, which was approved in May, 2020.
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, PAX Technology Inc's 2019 payroll expenses are estimated to be at least $10.52M.
Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $61,885 per employee1
Reported PPP Proceed Usage:
On the PPP application, PAX Technology Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,191,773
Business Information - PAX Technology Inc in Jacksonville, FL
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than PAX Technology Inc's reported 170 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $2.19M.
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Footnotes & Information
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