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PPP Loan Data — Tempworks Software, Inc., Eagan, MN

SBA PPP loan data, payroll data, and salaries for Tempworks Software, Inc.
MN

Tempworks Software, Inc.

Entity: Corporation

Industry: Software Publishers

Location: Eagan, MN

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Tempworks Software, Inc. is a corporation located at 3140 Neil Artmstrong Blvd in Eagan, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,689,900.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.69M

Jobs Retained:

171

Loan Approved:

2020-04-06

Lender:

HIGHLAND BANK

Tempworks Software, Inc. in Eagan, MN received a Paycheck Protection Loan of $2.69M through HIGHLAND BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Tempworks Software, Inc.'s total 2019 payroll expenses were approximately $12.91M in order to qualify for the PPP loan amount received.

Based on their reported 171 jobs retained, this equals an estimated average yearly compensation of $75,506 per employee1.

Because the loan received by Tempworks Software, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Tempworks Software, Inc. in Eagan, MN

Tempworks Software, Inc.
3140 Neil Artmstrong Blvd
Eagan, MN 55121

Business Industry

Software Publishers (NAICS code 511210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-02

Similar Companies near Eagan

In the Eagan area, 4 businesses in the "Software Publishers" industry received a PPP loan. These local businesses reported an average of 89 employees (compared to this company's 171) and received an average PPP loan of $1,613,259 (compared to this company's $2.69M).

Industry PPP Comparison Statistics

Nationwide, 8,232 businesses in the "Software Publishers" industry received a total of $2,105,805,320.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 13 employees, 92% lower than Tempworks Software, Inc.'s reported 171 employees, and received an average PPP loan of $255,807, 90% lower than this company's loan of $2.69M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/tempworks-software-inc-eagan-mn