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

PPP Loan Data — Predictive Technology Group Inc, Salt Lake City, UT

ALERT: There are 2 PPP loans for a total of $3.33M in our database for businesses with the name "Predictive Technology Group Inc" in Salt Lake City, UT. 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 Predictive Technology Group Inc
UT

Predictive Technology Group Inc

Entity: Corporation

Industry: Offices of Other Holding Companies

Location: Salt Lake City, UT

Search All PPP Data

Predictive Technology Group Inc is a corporation located at 2735 E Parleys Way Ste 205 in Salt Lake City, Utah that received a Coronavirus-related PPP loan from the SBA of $1,665,980.00 in February, 2021.

$ PPP Loan Information
Loan #2397408402

Loan Size:

$1.67M

Jobs Retained:

68

Loan Approved:

2021-02-03

Loan Status:

Ongoing Loan

Lender:

Cache Valley Bank
Likely Employment Reduction3

Predictive Technology Group Inc in Salt Lake City, UT received a Paycheck Protection Loan of $1.67M through Cache Valley Bank, which was approved in February, 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.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 68 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 80. 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

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, Predictive Technology Group Inc's 2019 payroll expenses are estimated to be at least $8M (not accounting for salary amounts > $100k).

Because the 68 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, Predictive Technology Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,665,977

Business Information - Predictive Technology Group Inc in Salt Lake City, UT

Predictive Technology Group Inc
2735 E Parleys Way Ste 205
Salt Lake City, UT 84109

Business Industry:
Offices of Other Holding Companies
NAICS code 551112

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Salt Lake County, UT — SBA Office 0883 — Congressional District: UT-02

Similar Companies near Salt Lake City

In the Salt Lake City area, 3 businesses in the "Offices of Other Holding Companies" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 68) and received an average PPP loan of $592,827 (compared to this company's $1.67M).

Industry PPP Comparison Statistics

Nationwide, 12,536 businesses in the "Offices of Other Holding Companies" industry received a total of $1.56B 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 13 employees, 81% lower than Predictive Technology Group Inc's reported 68 employees, and received an average PPP loan of $124,396, 93% lower than this company's loan of $1.67M.

SBA PPP loan data, payroll data, and salaries for Predictive Technology Group Inc
UT

Predictive Technology Group Inc

Entity: Corporation

Industry: Offices of Bank Holding Companies

Location: Salt Lake City, UT

Search All PPP Data

Predictive Technology Group Inc is a corporation located at 2735 E Parleys Way Ste 205 in Salt Lake City, Utah that received a Coronavirus-related PPP loan from the SBA of $1,665,985.00 in April, 2020.

$ PPP Loan Information
Loan #4187877201

Loan Size:

$1.67M

Jobs Retained:

68

Loan Approved:

2020-04-27

Loan Status:

Ongoing Loan

Lender:

Cache Valley Bank
Likely Employment Reduction3

Predictive Technology Group Inc in Salt Lake City, UT received a Paycheck Protection Loan of $1.67M through Cache Valley Bank, which was approved in April, 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.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 68 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 80. 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

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, Predictive Technology Group Inc's 2019 payroll expenses are estimated to be at least $8M (not accounting for salary amounts > $100k).

Because the 68 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, Predictive Technology Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,665,985

Business Information - Predictive Technology Group Inc in Salt Lake City, UT

Predictive Technology Group Inc
2735 E Parleys Way Ste 205
Salt Lake City, UT 84109

Business Industry:
Offices of Bank Holding Companies
NAICS code 551111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Salt Lake County, UT — SBA Office 0883 — Congressional District: UT-02

Industry PPP Comparison Statistics

Nationwide, 362 businesses in the "Offices of Bank Holding Companies" industry received a total of $29.77M 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 9 employees, 87% lower than Predictive Technology Group Inc's reported 68 employees, and received an average PPP loan of $82,239, 95% lower than this company's loan of $1.67M.

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.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/predictive-technology-group-inc-salt-lake-city-ut