PPP Loan Data — Tallan Inc, Glastonbury, CT
Tallan Inc is a corporation located at 45 Glastonbury Blvd in Glastonbury, Connecticut that received a Coronavirus-related PPP loan from the SBA of $2,506,935.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Tallan Inc in Glastonbury, CT received a Paycheck Protection Loan of $2.51M through Liberty Bank, 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 120. 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, Tallan Inc's 2019 payroll expenses are estimated to be at least $12.03M (not accounting for salary amounts > $100k).
Because the 117 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, Tallan Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,506,935
Business Information - Tallan Inc in Glastonbury, CT
45 Glastonbury Blvd
Glastonbury, CT 6033
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Glastonbury
In the Glastonbury area, 15 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 117) and received an average PPP loan of $717,132 (compared to this company's $2.51M).
Similar Nearby Businesses Who Received PPP Funding:
Amston Pro Services LLC
Zion Software LLC
Core Resource Group, Inc
Khms Technology Services Corporation
Microlink Technologies, Inc
Entrespace Group, Inc
Diversified Design Technolog
Industry PPP Comparison Statistics
Nationwide, 43,326 businesses in the "Custom Computer Programming Services" industry received a total of $6.67B 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 10 employees, 91% lower than Tallan Inc's reported 117 employees, and received an average PPP loan of $153,857, 94% lower than this company's loan of $2.51M.
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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