PPP Loan Data — Sunbird Software Inc, Somerset, NJ
Sunbird Software Inc is a corporation located at 200 Cottontail Ln, Ste B106e in Somerset, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,634,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Sunbird Software Inc in Somerset, NJ received a Paycheck Protection Loan of $1.63M through PNC Bank, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 2021.
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, Sunbird Software Inc's 2019 payroll expenses are estimated to be at least $7.84M.
Based on their reported 88 jobs retained, this equals an estimated average yearly compensation of $89,133 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sunbird Software Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,634,100
Business Information - Sunbird Software Inc in Somerset, NJ
200 Cottontail Ln, Ste B106e
Somerset, NJ 8873
NAICS code 511210
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Somerset
In the Somerset area, 21 businesses in the "Software Publishers" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 88) and received an average PPP loan of $344,166 (compared to this company's $1.63M).
Similar Nearby Businesses Who Received PPP Funding:
Redix International Inc
OSS Nokalva, Inc
Franklin Township, NJ
Onterra Systems LLC
Superior Software Technolgy Solution Inc
Sphere Management Inc
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, 85% lower than Sunbird Software Inc's reported 88 employees, and received an average PPP loan of $202,819, 88% lower than this company's loan of $1.63M.
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Footnotes & Information
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