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PPP Loan Data — Tomorrow Ideas Inc,
Seattle, WA
Tomorrow Ideas Inc
Entity: Corporation
Industry: Custom Computer Programming Services
Location: Seattle, WA
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Tomorrow Ideas Inc is a corporation located at 500 Union St Ste 435 in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $467,705.00 in March, 2021.
The company has reported itself as a male owned business, and employed at least 22 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9774638508
Loan Size:
Jobs Retained:
22Loan Approved:
2021-03-12Loan Status:
Paid in Full or ForgivenLender:
Harvest Small Business Finance, LLCTomorrow Ideas Inc in Seattle, WA received a Paycheck Protection Loan of $467,705 through Harvest Small Business Finance, LLC, which was approved in March, 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 December, 2021.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 22 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 22. 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
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, Tomorrow Ideas Inc's 2019 payroll expenses are estimated to be at least $2.24M (not accounting for salary amounts > $100k).
Because the 22 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, Tomorrow Ideas Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $467,704
Business Information - Tomorrow Ideas Inc in Seattle, WA
500 Union St Ste 435
Seattle, WA 98101
Business Industry:
Custom Computer Programming Services
NAICS code 541511
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Seattle
In the Seattle area, 30 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 22) and received an average PPP loan of $272,365 (compared to this company's $467,705).
Similar Nearby Businesses Who Received PPP Funding:
Irespond
Seattle, WA
Handimaps
Seattle, WA
Imperative Group Inc
Seattle, WA
AD Lightning Inc
Seattle, WA
Contxtual, Inc
Seattle, WA
Thirstysprout LLC
Seattle, WA
Doxo Inc
Seattle, WA
Charity USAcom LLC
Seattle, WA
Satsub Studios LLC
Seattle, WA
Industry PPP Comparison Statistics
Nationwide, 42,869 businesses in the "Custom Computer Programming Services" industry received a total of $6.65B 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, 55% lower than Tomorrow Ideas Inc's reported 22 employees, and received an average PPP loan of $155,041, 67% lower than this company's loan of $467,705.
Tomorrow Ideas, Inc
Entity: Corporation
Industry: Software Publishers
Location: Seattle, WA
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Tomorrow Ideas, Inc is a corporation located at 500 Union St #435 0.0 in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $313,557.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least nineteen people during the applicable loan loan period.
$
PPP Loan Information
Loan #7714487307
Loan Size:
Jobs Retained:
19Loan Approved:
2020-04-30Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationTomorrow Ideas, Inc in Seattle, WA received a Paycheck Protection Loan of $313,557 through JPMorgan Chase 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 June, 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, Tomorrow Ideas, Inc's 2019 payroll expenses are estimated to be at least $1.51M.
Based on their reported 19 jobs retained, this equals an estimated average yearly compensation of $79,214 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tomorrow Ideas, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $313,557
Business Information - Tomorrow Ideas, Inc in Seattle, WA
500 Union St #435 0.0
Seattle, WA 98101
Business Industry:
Software Publishers
NAICS code 511210
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Seattle
In the Seattle area, 23 businesses in the "Software Publishers" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 19) and received an average PPP loan of $921,575 (compared to this company's $313,557).
Similar Nearby Businesses Who Received PPP Funding:
Spiral Genetics, Inc
Seattle, WA
Groupfabric Inc
Seattle, WA
Onehub, Inc
Seattle, WA
Deep Think Technologies, LLC
Seattle, WA
Docket Technologies Inc
Seattle, WA
Promethean Inc
Seattle, WA
Conenza, Inc
Seattle, WA
Vysor Inc
Seattle, WA
Riot Insight Inc
Seattle, WA
Industry PPP Comparison Statistics
Nationwide, 13,334 businesses in the "Software Publishers" industry received a total of $2.73B 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 13 employees, 32% lower than Tomorrow Ideas, Inc's reported 19 employees, and received an average PPP loan of $204,573, 35% lower than this company's loan of $313,557.
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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