PPP Loan Data — Technolutionary, LLC, Churchton, MD
Technolutionary, LLC is a partnership located at 1003 South Creek View Court in Churchton, Maryland that received a Coronavirus-related PPP loan from the SBA of $25,017.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Manufacturers and Traders Trust Company
Technolutionary, LLC in Churchton, MD received a Paycheck Protection Loan of $25,017 through Manufacturers and Traders Trust Company, 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 May, 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, Technolutionary, LLC's 2019 payroll expenses are estimated to be at least $120,082.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,027 per employee1
Reported PPP Proceed Usage:
On the PPP application, Technolutionary, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,017
Business Information - Technolutionary, LLC in Churchton, MD
1003 South Creek View Court
Churchton, MD 20733
Computer Systems Design Services
NAICS code 541512
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Churchton
In the Churchton area, 3 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $147,227 (compared to this company's $25,017).
Similar Nearby Businesses Who Received PPP Funding:
Chesapeake It Consulting, Inc
Chesapeake Beach, MD
Happy Robotz LLC
Chesapeake Beach, MD
Industry PPP Comparison Statistics
Nationwide, 31,382 businesses in the "Computer Systems Design Services" industry received a total of $4.35B 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, 233% higher than Technolutionary, LLC's reported 3 employees, and received an average PPP loan of $138,748, 455% higher than this company's loan of $25,017.
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Footnotes & Information
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