PPP Loan Data — S Frame Software LLC-Sba Small 7A Term, Madison, CT
S Frame Software LLC-Sba Small 7A Term is a sole proprietorship located at 7 Carmel Court in Madison, Connecticut that received a Coronavirus-related PPP loan from the SBA of $46,015.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
S Frame Software LLC-Sba Small 7A Term in Madison, CT received a Paycheck Protection Loan of $46,015 through TD Bank, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 2. 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
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, S Frame Software LLC-Sba Small 7A Term's 2019 payroll expenses are estimated to be at least $220,872 (not accounting for salary amounts > $100k).
Because the 2 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, S Frame Software LLC-Sba Small 7A Term reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,015
Business Information - S Frame Software LLC-Sba Small 7A Term in Madison, CT
7 Carmel Court
Madison, CT 6443
NAICS code 511210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Madison
In the Madison area, 3 businesses in the "Software Publishers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $44,086 (compared to this company's $46,015).
Similar Nearby Businesses Who Received PPP Funding:
Mental Canvas, Inc
Industry PPP Comparison Statistics
Nationwide, 13,466 businesses in the "Software Publishers" industry received a total of $2.73B 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, 550% higher than S Frame Software LLC-Sba Small 7A Term's reported 2 employees, and received an average PPP loan of $202,819, 341% higher than this company's loan of $46,015.
FederalPay's PPP Information Policy
Footnotes & Information
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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