PPP Loan Data — Softworx Solutions Inc, Altamonte Springs, FL
Softworx Solutions Inc is a corporation located at 378 Center Pointe Circle in Altamonte Springs, Florida that received a Coronavirus-related PPP loan from the SBA of $24,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Softworx Solutions Inc in Altamonte Springs, FL received a Paycheck Protection Loan of $24,800 through Insight CU, 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, Softworx Solutions Inc's 2019 payroll expenses are estimated to be at least $119,040.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,760 per employee1
Reported PPP Proceed Usage:
On the PPP application, Softworx Solutions Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,800
Business Information - Softworx Solutions Inc in Altamonte Springs, FL
378 Center Pointe Circle
Altamonte Springs, FL 32701
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 Altamonte Springs
In the Altamonte Springs area, 2 businesses in the "Software Publishers" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 4) and received an average PPP loan of $160,638 (compared to this company's $24,800).
Similar Nearby Businesses Who Received PPP Funding:
M2 Systems Corporation
Altamonte Springs, FL
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, 225% higher than Softworx Solutions Inc's reported 4 employees, and received an average PPP loan of $202,819, 718% higher than this company's loan of $24,800.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!