PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Petasense Inc, San Jose, CA

ALERT: There are 2 PPP loans for a total of $446,600 in our database for businesses with the name "Petasense Inc" in San Jose, CA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Petasense Inc
CA

Petasense Inc

Entity: Corporation

Industry: Other Electronic Component Manufacturing

Location: San Jose, CA

Search All PPP Data

Petasense Inc is a corporation located at 96 N 3rd St Ste 300 in San Jose, California that received a Coronavirus-related PPP loan from the SBA of $223,300.00 in January, 2021.

The company has reported itself as an Asian male owned business, and employed at least twelve people during the applicable loan loan period.

$ PPP Loan Information
Loan #3074778310

Loan Size:

$223,300

Jobs Retained:

12

Loan Approved:

2021-01-21

Loan Status:

Ongoing Loan

Lender:

Coastal Community Bank

Petasense Inc in San Jose, CA received a Paycheck Protection Loan of $223,300 through Coastal Community 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 More
Understanding 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 More

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, Petasense Inc's 2019 payroll expenses are estimated to be at least $1.07M.

Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $89,320 per employee1

Reported PPP Proceed Usage:

On the PPP application, Petasense Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $223,298
  • Utilities: $1

Business Information - Petasense Inc in San Jose, CA

Petasense Inc
96 N 3rd St Ste 300
San Jose, CA 95112

Business Industry:
Other Electronic Component Manufacturing
NAICS code 334419

Business Owner Demographics

Race: Asian

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Santa Clara County, CA — SBA Office 0912 — Congressional District: CA-19

Similar Companies near San Jose

In the San Jose area, 7 businesses in the "Other Electronic Component Manufacturing" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 12) and received an average PPP loan of $344,016 (compared to this company's $223,300).

Industry PPP Comparison Statistics

Nationwide, 2,099 businesses in the "Other Electronic Component Manufacturing" industry received a total of $497.07M 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 22 employees, 83% higher than Petasense Inc's reported 12 employees, and received an average PPP loan of $236,813, 6% higher than this company's loan of $223,300.

SBA PPP loan data, payroll data, and salaries for Petasense Inc
CA

Petasense Inc

Entity: Corporation

Industry: Custom Computer Programming Services

Location: San Jose, CA

Search All PPP Data

Petasense Inc is a corporation located at 96 N 3rd St in San Jose, California that received a Coronavirus-related PPP loan from the SBA of $223,300.00 in May, 2020.

The company has reported itself as an Asian owned business, and employed at least eleven people during the applicable loan loan period.

$ PPP Loan Information
Loan #5110697409

Loan Size:

$223,300

Jobs Retained:

11

Loan Approved:

2020-05-11

Loan Status:

Ongoing Loan

Lender:

Coastal Community Bank

Petasense Inc in San Jose, CA received a Paycheck Protection Loan of $223,300 through Coastal Community Bank, which was approved in May, 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 More
Understanding 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 More

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, Petasense Inc's 2019 payroll expenses are estimated to be at least $1.07M.

Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $97,440 per employee1

Reported PPP Proceed Usage:

On the PPP application, Petasense Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $223,300

Business Information - Petasense Inc in San Jose, CA

Petasense Inc
96 N 3rd St
San Jose, CA 95112

Business Industry:
Custom Computer Programming Services
NAICS code 541511

Business Owner Demographics

Race: Asian

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Santa Clara County, CA — SBA Office 0912 — Congressional District: CA-17

Similar Companies near San Jose

In the San Jose area, 33 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 11) and received an average PPP loan of $474,920 (compared to this company's $223,300).

Industry PPP Comparison Statistics

Nationwide, 41,891 businesses in the "Custom Computer Programming Services" industry received a total of $6.6B 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, 9% lower than Petasense Inc's reported 11 employees, and received an average PPP loan of $157,560, 29% lower than this company's loan of $223,300.

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.

Search FederalPay's Full PPP Loan Database

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/petasense-inc-san-jose-ca