PPP Loan Data — Pivotix, Inc, Schaumburg, IL
Pivotix, Inc is a corporation located at 904 S Roselle Rd. #237 in Schaumburg, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Pivotix, Inc in Schaumburg, IL received a Paycheck Protection Loan of $25,000 through WebBank, which was approved in April, 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, Pivotix, 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, Pivotix, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Pivotix, Inc in Schaumburg, IL
904 S Roselle Rd. #237
Schaumburg, IL 60193
Data Processing, Hosting, and Related Services
NAICS code 518210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 10,209 businesses in the "Data Processing, Hosting, and Related Services" industry received a total of $1.51B 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 11 employees, 450% higher than Pivotix, Inc's reported 2 employees, and received an average PPP loan of $147,893, 492% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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