PPP Loan Data — Stellartech Research Corporation, Milpitas, CA
Stellartech Research Corporation is a corporation located at 560 Cottonwood Dr in Milpitas, California that received a Coronavirus-related PPP loan from the SBA of $2,675,635.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Stellartech Research Corporation in Milpitas, CA received a Paycheck Protection Loan of $2.68M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 128. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Stellartech Research Corporation's 2019 payroll expenses are estimated to be at least $12.84M (not accounting for salary amounts > $100k).
Because the 115 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Stellartech Research Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,084,892
- Utilities: $44,867
- Rent: $194,302
- Health Care: $337,629
- Debt Interest: $13,945
Business Information - Stellartech Research Corporation in Milpitas, CA
560 Cottonwood Dr
Milpitas, CA 95035
Surgical and Medical Instrument Manufacturing
NAICS code 339112
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Milpitas
In the Milpitas area, 3 businesses in the "Surgical and Medical Instrument Manufacturing" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 115) and received an average PPP loan of $1,033,042 (compared to this company's $2.68M).
Similar Nearby Businesses Who Received PPP Funding:
Beahm Designs Inc
Nucryo Vascular Inc
Industry PPP Comparison Statistics
Nationwide, 3,435 businesses in the "Surgical and Medical Instrument Manufacturing" industry received a total of $858.13M 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 18 employees, 84% lower than Stellartech Research Corporation's reported 115 employees, and received an average PPP loan of $249,819, 91% lower than this company's loan of $2.68M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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