PPP Loan Data — Pedowitz Group LLC, The, Atlanta, GA
Pedowitz Group LLC, The is a limited liability company (LLC) located at 5555 Glenridge Connector Ste 200 in Atlanta, Georgia that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Pedowitz Group LLC, The in Atlanta, GA received a Paycheck Protection Loan of $2M through Bank of America, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 96. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Pedowitz Group LLC, The's 2019 payroll expenses are estimated to be at least $9.6M (not accounting for salary amounts > $100k).
Because the 66 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Pedowitz Group LLC, The reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Pedowitz Group LLC, The in Atlanta, GA
5555 Glenridge Connector Ste 200
Atlanta, GA 30342
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Atlanta
In the Atlanta area, 30 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 66) and received an average PPP loan of $139,422 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Anastasi Solutions LLC
Tophat Security Inc
Hatchworks Technologies Inc
80 Watts, 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, 85% lower than Pedowitz Group LLC, The's reported 66 employees, and received an average PPP loan of $153,857, 92% lower than this company's loan of $2M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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