text: Inmotion Hosting, Inc in Virginia Beach, VA - SBA PPP Loan Data (Paycheck Protection Program)
  PPP Loan Data — Inmotion Hosting, Inc, Virginia Beach, VA
  Inmotion Hosting, Inc is a subchapter s corporation located at 3629 Sentara Way in Virginia Beach, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,945,669.00 in April, 2020.
  Loan #9909537003
  Inmotion Hosting, Inc in Virginia Beach, VA received a Paycheck Protection Loan of $2.95M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 2020.
  For Inmotion Hosting, Inc, the calculation used to estimate payroll costs is shown below:
  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, Inmotion Hosting, Inc's 2019 payroll expenses are estimated to be at least $14.14M.
  Based on their reported 380 jobs retained, this equals an estimated average yearly compensation of $37,208 per employee1
  On the PPP application, Inmotion Hosting, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
  Payroll: $2,945,669
  Because the loan received by Inmotion Hosting, 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 - Inmotion Hosting, Inc in Virginia Beach, VA
  In the Virginia Beach area, 8 businesses in the "Data Processing, Hosting, and Related Services" industry received a PPP loan. These local businesses reported an average of 73 employees (compared to this company's 380) and received an average PPP loan of $604,320 (compared to this company's $2.95M).
  Vestalyze Inc
  Kimyata Jeffery
  Doma Document Solutions LLC
  Simon Financial LLC
  PPP recipients in this industry report an average of 11 employees, 97% lower than Inmotion Hosting, Inc's reported 380 employees, and received an average PPP loan of $149,750, 95% lower than this company's loan of $2.95M.