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PPP Loan Data — The Consultants Consortium Inc,
Indianapolis, IN
The Consultants Consortium Inc
Entity: Corporation
Industry: Computer Systems Design Services
Location: Indianapolis, IN
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The Consultants Consortium Inc is a corporation located at 1022 E 52nd St in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #1419808401
Loan Size:
Jobs Retained:
154Loan Approved:
2021-02-01Loan Status:
Paid in Full or ForgivenLender:
BMO Harris Bank National AssociationThe Consultants Consortium Inc in Indianapolis, IN received a Paycheck Protection Loan of $2M through BMO Harris Bank National Association, which was approved in February, 2021.
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 October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, The Consultants Consortium Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 154 jobs retained, this equals an estimated average yearly compensation of $62,338 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Consultants Consortium Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - The Consultants Consortium Inc in Indianapolis, IN
1022 E 52nd St
Indianapolis, IN 46205
Business Industry:
Computer Systems Design Services
NAICS code 541512
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Indianapolis
In the Indianapolis area, 18 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 154) and received an average PPP loan of $346,044 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Simplicis Consulting LLC
Indianapolis, IN
Pondurance LLC
Indianapolis, IN
Avtech Solutions Inc
Indianapolis, IN
Aegis Technology Partners LLC
Indianapolis, IN
Midwest Technology Partnership LLC
Indianapolis, IN
Pinnacle Solutions Inc
Indianapolis, IN
Optiform Imaging Systems, Inc
Indianapolis, IN
NET Industries, Inc
Indianapolis, IN
Industry PPP Comparison Statistics
Nationwide, 30,694 businesses in the "Computer Systems Design Services" industry received a total of $4.28B 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, 94% lower than The Consultants Consortium Inc's reported 154 employees, and received an average PPP loan of $139,550, 93% lower than this company's loan of $2M.
The Consultants Consortium, Inc
Entity: Corporation
Industry: Custom Computer Programming Services
Location: Indianapolis, IN
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The Consultants Consortium, Inc is a corporation located at 1022 East 52nd Street in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $4,196,500.00 in April, 2020.
$
PPP Loan Information
Loan #6472767005
Loan Size:
Jobs Retained:
280Loan Approved:
2020-04-07Loan Status:
Paid in Full or ForgivenLender:
BMO Harris Bank National AssociationThe Consultants Consortium, Inc in Indianapolis, IN received a Paycheck Protection Loan of $4.2M through BMO Harris 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 September, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, The Consultants Consortium, Inc's 2019 payroll expenses are estimated to be at least $20.14M.
Based on their reported 280 jobs retained, this equals an estimated average yearly compensation of $71,940 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Consultants Consortium, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,196,500
Business Information - The Consultants Consortium, Inc in Indianapolis, IN
1022 East 52nd Street
Indianapolis, IN 46205
Business Industry:
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Indianapolis
In the Indianapolis area, 16 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 280) and received an average PPP loan of $593,326 (compared to this company's $4.2M).
Similar Nearby Businesses Who Received PPP Funding:
WTH Technology, Inc
Indianapolis, IN
Critical Skills, Inc
Indiapolis, IN
Brite Systems Incorporated
Indianapolis, IN
Upper Hand, Inc
Indianapolis, IN
Mario Guerendo
Indianapolis, IN
It Workforce Inc
Indianapolis, IN
Givelify LLC
Indianapolis, IN
Optiform Imaging Systems Inc
Indianapolis, IN
Industry PPP Comparison Statistics
Nationwide, 41,706 businesses in the "Custom Computer Programming Services" industry received a total of $6.26B 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, 96% lower than The Consultants Consortium, Inc's reported 280 employees, and received an average PPP loan of $150,143, 96% lower than this company's loan of $4.2M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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