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PPP Loan Data — Photon Infotech Inc, San Jose, CA

SBA PPP loan data, payroll data, and salaries for Photon Infotech Inc
CA

Photon Infotech Inc

Entity: Corporation

Industry: Custom Computer Programming Services

Location: San Jose, CA

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Photon Infotech Inc is a corporation located at 100 Century Center Ct Ste 502 in San Jose, California that received a Coronavirus-related PPP loan from the SBA of $7,110,345.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$7.11M

Jobs Retained:

355

Loan Approved:

2020-04-30

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Photon Infotech Inc in San Jose, CA received a Paycheck Protection Loan of $7.11M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Photon Infotech Inc's total 2019 payroll expenses were approximately $34.13M in order to qualify for the PPP loan amount received.

Based on their reported 355 jobs retained, this equals an estimated average yearly compensation of $96,140 per employee1.

Because the loan received by Photon Infotech Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Photon Infotech Inc in San Jose, CA

Photon Infotech Inc
100 Century Center Ct Ste 502
San Jose, CA 95112

Business Industry

Custom Computer Programming Services (NAICS code 541511)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-19

Similar Companies near San Jose

In the San Jose area, 26 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 355) and received an average PPP loan of $584,947 (compared to this company's $7.11M).

Industry PPP Comparison Statistics

Nationwide, 24,641 businesses in the "Custom Computer Programming Services" industry received a total of $4,943,790,485.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 97% lower than Photon Infotech Inc's reported 355 employees, and received an average PPP loan of $200,633, 97% lower than this company's loan of $7.11M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

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