INDTAI, INC.
PPP Loan approved Apr 8, 2020 through Burke and Herbert Bank and Trust Company
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $1,176,600.00 | 80.0% |
| Utilities | $23,400.00 | 1.6% |
| Mortgage Interest | $270,800.00 | 18.4% |
About This Loan
INDTAI, INC. received a PPP loan of $1,470,800 approved on Apr 8, 2020. The loan was originated by Burke and Herbert Bank and Trust Company.
INDTAI, INC. is a corporation located in VIENNA, Virginia. At the time of the application, the business was described as "new business or 2 years or less".
The business operates in the Educational Support Services industry (NAICS 611710), part of the Educational Services sector of the economy. The applicant reported 203 jobs as retained through this loan.
The SBA forgave $1,479,297.96 of this loan — 100.6% of the total approved amount, with forgiveness recorded on Nov 12, 2020. 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: $1,176,600 to payroll, $23,400 to utilities, $270,800 to mortgage interest. The payroll component represents 80.0% 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 Virginia, visit the Virginia page. To compare this loan with others in the same industry, see the Educational Support Services industry page.