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PPP Loan Data — Barnallen Technologies, Inc,
Rockville, MD
Barnallen Technologies, Inc
Entity: Subchapter S Corporation
Industry: Administrative Management and General Management Consulting Services
Location: Rockville, MD
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Barnallen Technologies, Inc is a subchapter s corporation located at 1700 Rockville Pike in Rockville, Maryland that received a Coronavirus-related PPP loan from the SBA of $4,413,345.00 in April, 2020.
$
PPP Loan Information
Loan #2429647305
Loan Size:
Jobs Retained:
465Loan Approved:
2020-04-29Loan Status:
Paid in Full or ForgivenLender:
Atlantic Union BankBarnallen Technologies, Inc in Rockville, MD received a Paycheck Protection Loan of $4.41M through Atlantic Union 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 November, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Barnallen Technologies, Inc's 2019 payroll expenses are estimated to be at least $21.18M.
Based on their reported 465 jobs retained, this equals an estimated average yearly compensation of $45,557 per employee1
Reported PPP Proceed Usage:
On the PPP application, Barnallen Technologies, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,413,345
Business Information - Barnallen Technologies, Inc in Rockville, MD
1700 Rockville Pike
Rockville, MD 20852
Business Industry:
Administrative Management and General Management Consulting Services
NAICS code 541611
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There are 4 other businesses that received a PPP loan registered to the same address as Barnallen Technologies, Inc.
Holmes And Associates Financial Services LLC
Investment Advice
Iventure Accounting Group Inc
Unknown
Boris Foxman
Offices of Certified Public Accountants
Media Cybernetics Inc
All Other Professional, Scientific, and Technical Services
Similar Companies near Rockville
In the Rockville area, 58 businesses in the "Administrative Management and General Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 465) and received an average PPP loan of $384,649 (compared to this company's $4.41M).
Similar Nearby Businesses Who Received PPP Funding:
DC Real Solutions
Rockville, MD
Morris Management Inc
Rockville, MD
Francis Caskin
Rockville, MD
Epic Business Solutions Inc
Rockville, MD
Bahar Consulting LLC
Rockville, MD
Workwell Associates Inc
Rockville, MD
Destiny Management Services LLC
Rockville, MD
Elizabeth Wetzler
Rockville, MD
Diabetes Consulting Services
Rockville, MD
Industry PPP Comparison Statistics
Nationwide, 92,456 businesses in the "Administrative Management and General Management Consulting Services" industry received a total of $5.45B 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 5 employees, 99% lower than Barnallen Technologies, Inc's reported 465 employees, and received an average PPP loan of $58,893, 99% lower than this company's loan of $4.41M.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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