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PPP Loan Data — Sayers Technology Holdings Inc,
Vernon Hills, IL
Sayers Technology Holdings Inc
Entity: Subchapter S Corporation
Industry: All Other Professional, Scientific, and Technical Services
Location: Vernon Hills, IL
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Sayers Technology Holdings Inc is a subchapter s corporation located at 825 Corporate Woods Pkwy in Vernon Hills, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
$
PPP Loan Information
Loan #7436058302
Loan Size:
Jobs Retained:
128Loan Approved:
2021-01-28Loan Status:
Ongoing LoanLender:
CIBC Bank USASayers Technology Holdings Inc in Vernon Hills, IL received a Paycheck Protection Loan of $2M through CIBC Bank USA, which was approved in January, 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.
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 MoreUnderstanding 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 MoreBased 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, Sayers Technology Holdings Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 128 jobs retained, this equals an estimated average yearly compensation of $75,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sayers Technology Holdings Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,996
- Utilities: $1
Business Information - Sayers Technology Holdings Inc in Vernon Hills, IL
825 Corporate Woods Pkwy
Vernon Hills, IL 60061
Business Industry:
All Other Professional, Scientific, and Technical Services
NAICS code 541990
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
Similar Companies near Vernon Hills
In the Vernon Hills area, 95 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 128) and received an average PPP loan of $85,466 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Exclusive Design Cabinetry Inc
Mundelein, IL
Kira Kurgansky
Northbrook, IL
Genesis Technologies Inc
Northbrook, IL
Eytan Anisfeld
Northbrook, IL
A & M Real Estate Service Inc
Vernon Hills, IL
Danielle Perlin-Good
Northbrook, IL
Paul Matthews
Vernon Hills, IL
Comprehensive Wound Care LLC
Northbrook, IL
Janet Footlik
Northbrook, IL
Industry PPP Comparison Statistics
Nationwide, 128,302 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.37B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 96% lower than Sayers Technology Holdings Inc's reported 128 employees, and received an average PPP loan of $57,481, 97% lower than this company's loan of $2M.
Sayers Technology Holdings, Inc
Entity: Subchapter S Corporation
Industry: Computer Systems Design Services
Location: Vernon Hills, IL
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Sayers Technology Holdings, Inc is a subchapter s corporation located at 825 Corporate Woods Pkwy in Vernon Hills, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,494,000.00 in April, 2020.
$
PPP Loan Information
Loan #6826287001
Loan Size:
Jobs Retained:
138Loan Approved:
2020-04-07Loan Status:
Paid in Full or ForgivenLender:
CIBC Bank USASayers Technology Holdings, Inc in Vernon Hills, IL received a Paycheck Protection Loan of $2.49M through CIBC Bank USA, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 2021.
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 MoreUnderstanding 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 MoreBased 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, Sayers Technology Holdings, Inc's 2019 payroll expenses are estimated to be at least $11.97M.
Based on their reported 138 jobs retained, this equals an estimated average yearly compensation of $86,748 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sayers Technology Holdings, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,494,000
Business Information - Sayers Technology Holdings, Inc in Vernon Hills, IL
825 Corporate Woods Pkwy
Vernon Hills, IL 60061
Business Industry:
Computer Systems Design Services
NAICS code 541512
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
Similar Companies near Vernon Hills
In the Vernon Hills area, 29 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 138) and received an average PPP loan of $192,823 (compared to this company's $2.49M).
Similar Nearby Businesses Who Received PPP Funding:
M-Power Inc
Vernon Hills, IL
YYC Software Corporation
Vernon Hills, IL
Itegria, LLC
Northbrook, IL
Libra Technologies Inc
Northbrook, IL
Go Technology Group Inc
Northbrook, IL
International Millennium Consultants Inc
Northbrook, IL
Frontpage Interactive, LLC
Mundelein, IL
Holmes Business Analytics Inc
Vernon Hills, IL
Industry PPP Comparison Statistics
Nationwide, 30,865 businesses in the "Computer Systems Design Services" industry received a total of $4.34B 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, 93% lower than Sayers Technology Holdings, Inc's reported 138 employees, and received an average PPP loan of $140,681, 94% lower than this company's loan of $2.49M.
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. 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.
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