PPP Loan Data — Sosuda Tech, Winchester, MA
Entity: Limited Liability Company (LLC)
Location: Winchester, MATweet This • Search All PPP Data
Sosuda Tech is a limited liability company (LLC) located at 303 Cross Street in Winchester, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Sosuda Tech in Winchester, MA received a Paycheck Protection Loan of $2M through Fundbox, Inc., which was approved in June, 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, Sosuda Tech's 2019 payroll expenses are estimated to be at least $9.6M (not accounting for salary amounts > $100k).
Based on their reported 96 jobs retained, this equals an estimated average yearly compensation of $100,000 (not accounting for salary amounts > $100k) per employee1
Reported PPP Proceed Usage:
On the PPP application, Sosuda Tech reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Sosuda Tech in Winchester, MA
303 Cross Street
Winchester, MA 1890
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Winchester
In the Winchester area, 14 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 96) and received an average PPP loan of $156,255 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Olmsted Design, LLC
Dianne Bischoff James Enterprises
Traill Ventures, LLC
Galloping Solutions LLC
Industry PPP Comparison Statistics
Nationwide, 129,763 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.41B 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, 95% lower than Sosuda Tech's reported 96 employees, and received an average PPP loan of $57,091, 97% lower than this company's loan of $2M.
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Footnotes & Information
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