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PPP Loan Data — Tier1 Technologies, LLC, Covington, KY

SBA PPP loan data, payroll data, and salaries for Tier1 Technologies, LLC
KY

Tier1 Technologies, LLC

Entity: Limited Liability Company (LLC)

Industry: Other Management Consulting Services

Location: Covington, KY

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Tier1 Technologies, LLC is a limited liability company (LLC) located at 100 E Rivercenter Blvd in Covington, Kentucky that received a Coronavirus-related PPP loan from the SBA of $3,462,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.46M

Jobs Retained:

167

Loan Approved:

2020-04-09

Lender:

FIRST FINANCIAL BANK

Tier1 Technologies, LLC in Covington, KY received a Paycheck Protection Loan of $3.46M through FIRST FINANCIAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Tier1 Technologies, LLC's total 2019 payroll expenses were approximately $16.62M in order to qualify for the PPP loan amount received.

Based on their reported 167 jobs retained, this equals an estimated average yearly compensation of $99,515 per employee1.

Because the loan received by Tier1 Technologies, LLC 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 - Tier1 Technologies, LLC in Covington, KY

Tier1 Technologies, LLC
100 E Rivercenter Blvd
Covington, KY 41011

Business Industry

Other Management Consulting Services (NAICS code 541618)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: KY-04

Similar Companies near Covington

In the Covington area, 9 businesses in the "Other Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 167) and received an average PPP loan of $509,839 (compared to this company's $3.46M).

Industry PPP Comparison Statistics

Nationwide, 45,812 businesses in the "Other Management Consulting Services" industry received a total of $2,639,462,577.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 98% lower than Tier1 Technologies, LLC's reported 167 employees, and received an average PPP loan of $57,615, 98% lower than this company's loan of $3.46M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/tier1-technologies-llc-covington-ky