PPP Loan Data — Xigent Automation Systems, Inc, Lewis Center, OH
Xigent Automation Systems, Inc is a corporation located at 8303 Green Meadows Dr in Lewis Center, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,666,220.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 100 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Merchants Bank
Xigent Automation Systems, Inc in Lewis Center, OH received a Paycheck Protection Loan of $1.67M through First Merchants Bank, 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 March, 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, Xigent Automation Systems, Inc's 2019 payroll expenses are estimated to be at least $8M.
Based on their reported 100 jobs retained, this equals an estimated average yearly compensation of $79,979 per employee1
Reported PPP Proceed Usage:
On the PPP application, Xigent Automation Systems, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,666,220
Business Information - Xigent Automation Systems, Inc in Lewis Center, OH
8303 Green Meadows Dr
Lewis Center, OH 43035
Other Industrial Machinery Manufacturing
NAICS code 333249
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lewis Center
In the Lewis Center area, 3 businesses in the "Other Industrial Machinery Manufacturing" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 100) and received an average PPP loan of $562,973 (compared to this company's $1.67M).
Similar Nearby Businesses Who Received PPP Funding:
Lewis Center, OH
Tube & Pipe Technologies, Inc
Lewis Center, OH
Industry PPP Comparison Statistics
Nationwide, 3,568 businesses in the "Other Industrial Machinery Manufacturing" industry received a total of $984.26M 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 22 employees, 78% lower than Xigent Automation Systems, Inc's reported 100 employees, and received an average PPP loan of $275,857, 83% lower than this company's loan of $1.67M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!