PPP Loan Data — Simple Rfid Inc, Orem, UT
Simple Rfid Inc is a subchapter s corporation located at Ste 121 815 W 1250 S in Orem, Utah that received a Coronavirus-related PPP loan from the SBA of $24,827.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Simple Rfid Inc in Orem, UT received a Paycheck Protection Loan of $24,827 through Cross River Bank, which was approved in May, 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, Simple Rfid Inc's 2019 payroll expenses are estimated to be at least $119,170.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,793 per employee1
Reported PPP Proceed Usage:
On the PPP application, Simple Rfid Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,827
Business Information - Simple Rfid Inc in Orem, UT
Ste 121 815 W 1250 S
Orem, UT 84058
Other Management Consulting Services
NAICS code 541618
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Orem
In the Orem area, 9 businesses in the "Other Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $14,755 (compared to this company's $24,827).
Similar Nearby Businesses Who Received PPP Funding:
System Networks, Inc
Brad Jones Consulting, PLLC
The Awakening Enterprises LLC
By All Accounts
Diehl Enterprises Inc
Industry PPP Comparison Statistics
Nationwide, 84,014 businesses in the "Other Management Consulting Services" industry received a total of $3.74B 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 4 employees, the same amount reported by Simple Rfid Inc and received an average PPP loan of $44,524, 79% higher than this company's loan of $24,827.
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Footnotes & Information
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