PPP Loan Data — Rayven It Solutions LLC, Edison, NJ
Rayven It Solutions LLC is a limited liability company (LLC) located at 345 Plainfield Ave Ste 303 in Edison, New Jersey that received a Coronavirus-related PPP loan from the SBA of $361,900.00 in April, 2020.
The company has reported itself as an Asian owned business, and employed at least eighteen people during the applicable loan loan period.
$ PPP Loan Information
Lender:CITY NATIONAL BANK
Rayven It Solutions LLC received a Paycheck Protection Loan of $361,900 through CITY NATIONAL BANK, which was approved in April, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, Rayven It Solutions LLC's total 2019 payroll expenses were approximately $1.74M in order to qualify for the PPP loan amount received.
Based on their reported 18 jobs retained, this equals an estimated average yearly compensation of $96,507 per employee1.
Business Information - Rayven It Solutions LLC in Edison, NJ
345 Plainfield Ave Ste 303
Edison, NJ 8817
Custom Computer Programming Services (NAICS code 541511)
Business Owner Demographics
Race / Ethnicity: ASIAN
Veteran Status: UnreportedCongressional District: NJ-06
Similar Companies near Edison
In the Edison area, 40 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 18) and received an average PPP loan of $552,226 (compared to this company's $361,900).
Similar Nearby Businesses Who Received PPP Funding:
8K Miles Health Cloud Inc.
East Brunswick, NJ
Career Soft Solutions Inc
Mimi-Daka Resources, LLC
East Brunswick, NJ
Diaspark Inftoech Pvt LTD
Adak Consulting Inc
E Brunswick, NJ
Baanyan Software Services Inc
It America Inc
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, 39% lower than Rayven It Solutions LLC's reported 18 employees, and received an average PPP loan of $200,633, 45% lower than this company's loan of $361,900.
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.
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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