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PPP Loan Data — Solutions Through Innovative Technologies, Inc., Tulsa, OK

SBA PPP loan data, payroll data, and salaries for Solutions Through Innovative Technologies, Inc.
OK

Solutions Through Innovative Technologies, Inc.

Entity: Subchapter S Corporation

Industry: All Other Professional, Scientific, and Technical Services

Location: Tulsa, OK

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Solutions Through Innovative Technologies, Inc. is a subchapter s corporation located at 201 S Denver Ave in Tulsa, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $7,597,200.00 in June, 2020.

$ PPP Loan Information

Loan Size:

$7.6M

Jobs Retained:

446

Loan Approved:

2020-06-25

Lender:

SPIRITBANK

Solutions Through Innovative Technologies, Inc. in Tulsa, OK received a Paycheck Protection Loan of $7.6M through SPIRITBANK, which was approved in June, 2020.

Based on standard PPP eligibility rules, Solutions Through Innovative Technologies, Inc.'s total 2019 payroll expenses were approximately $36.47M in order to qualify for the PPP loan amount received.

Based on their reported 446 jobs retained, this equals an estimated average yearly compensation of $81,764 per employee1.

Because the loan received by Solutions Through Innovative Technologies, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Solutions Through Innovative Technologies, Inc. in Tulsa, OK

Solutions Through Innovative Technologies, Inc.
201 S Denver Ave
Tulsa, OK 74103

Business Industry

All Other Professional, Scientific, and Technical Services (NAICS code 541990)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: OK-01

Similar Companies near Tulsa

In the Tulsa area, 11 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 56 employees (compared to this company's 446) and received an average PPP loan of $863,670 (compared to this company's $7.6M).

Industry PPP Comparison Statistics

Nationwide, 63,722 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $4,746,522,934.00 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 6 employees, 99% lower than Solutions Through Innovative Technologies, Inc.'s reported 446 employees, and received an average PPP loan of $74,488, 99% lower than this company's loan of $7.6M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/solutions-through-innovative-technologies-inc-tulsa-ok