BRAVURA INFORMATION TECHNOLOGY SYSTEMS INC
PPP Loan approved Apr 27, 2020 through Fulton Bank, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $5,880,694.49 | 75.0% |
| Utilities | $980,115.75 | 12.5% |
| Rent / Lease | $980,115.74 | 12.5% |
About This Loan
BRAVURA INFORMATION TECHNOLOGY SYSTEMS INC received a PPP loan of $7,840,926 approved on Apr 27, 2020. The loan was originated by Fulton Bank, National Association.
BRAVURA INFORMATION TECHNOLOGY SYSTEMS INC is a corporation located in ABERDEEN, Maryland. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Other Telecommunications industry (NAICS 517919), part of the Information sector of the economy. The applicant reported 500 jobs as retained through this loan.
The SBA forgave $3,514,592.39 of this loan — 44.8% of the total approved amount, with forgiveness recorded on Nov 14, 2022. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $5,880,694 to payroll, $980,116 to utilities, $980,116 to rent or lease obligations. The payroll component represents 75.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Maryland, visit the Maryland page. To compare this loan with others in the same industry, see the Other Telecommunications industry page.