PPP Loan Data — Argo Systems, LLC, Hanover, MD
Argo Systems, LLC is a limited liability company (LLC) located at 1362 Mellon Rd Ste 100 in Hanover, Maryland that received a Coronavirus-related PPP loan from the SBA of $3,043,972.00 in April, 2020.
$ PPP Loan Information
Lender:FOUNTAINHEAD SBF LLC
Argo Systems, LLC received a Paycheck Protection Loan of $3.04M through FOUNTAINHEAD SBF LLC, which was approved in April, 2020.
Based on standard PPP eligibility rules, Argo Systems, LLC's total 2019 payroll expenses were approximately $14.61M in order to qualify for the PPP loan amount received.
Based on their reported 155 jobs retained, this equals an estimated average yearly compensation of $94,265 per employee1.
Business Information - Argo Systems, LLC in Hanover, MD
1362 Mellon Rd Ste 100
Hanover, MD 21076
Engineering Services (NAICS code 541330)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MD-02
Similar Companies near Hanover
In the Hanover area, 14 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 155) and received an average PPP loan of $767,529 (compared to this company's $3.04M).
Similar Nearby Businesses Who Received PPP Funding:
Traffic Concepts Inc
Amatrix Consulting Company
Integrated Waste Analysts, Inc.
Bayland Consultants & Designers, Inc.
Industry PPP Comparison Statistics
Nationwide, 28,113 businesses in the "Engineering Services" industry received a total of $7,024,215,141.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 14 employees, 91% lower than Argo Systems, LLC's reported 155 employees, and received an average PPP loan of $249,856, 92% lower than this company's loan of $3.04M.
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.
Footnotes & Information
1. 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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