PPP Loan Data — Saxon Global Inc, Irving, TX
Saxon Global Inc is a corporation located at 1320 Greenway Dr Suite 660 in Irving, Texas that received a Coronavirus-related PPP loan from the SBA of $2,203,600.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Hancock Whitney Bank
Saxon Global Inc in Irving, TX received a Paycheck Protection Loan of $2.2M through Hancock Whitney Bank, 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, Saxon Global Inc's 2019 payroll expenses are estimated to be at least $10.58M.
Based on their reported 132 jobs retained, this equals an estimated average yearly compensation of $80,131 per employee1
Reported PPP Proceed Usage:
On the PPP application, Saxon Global Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,203,600
Business Information - Saxon Global Inc in Irving, TX
1320 Greenway Dr Suite 660
Irving, TX 75038
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Irving
In the Irving area, 125 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 132) and received an average PPP loan of $498,713 (compared to this company's $2.2M).
Similar Nearby Businesses Who Received PPP Funding:
I2 It Solutions Inc
Newt Global Consulting LLC
KC Synergy Solutions Inc
Best Click Corporation
Eminence Technology Solutions Inc
TSQ Systems Inc
Industry PPP Comparison Statistics
Nationwide, 43,326 businesses in the "Custom Computer Programming Services" industry received a total of $6.67B 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 10 employees, 92% lower than Saxon Global Inc's reported 132 employees, and received an average PPP loan of $153,857, 93% lower than this company's loan of $2.2M.
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Footnotes & Information
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