PPP Loan Data — CT Consultants Inc, Mentor, OH
CT Consultants Inc is a corporation located at 8150 Sterling Ct in Mentor, Ohio that received a Coronavirus-related PPP loan from the SBA of $4,561,000.00 in April, 2020.
$ PPP Loan Information
Lender:FIRST NATIONAL BANK OF PENNSYLVANIA
CT Consultants Inc received a Paycheck Protection Loan of $4.56M through FIRST NATIONAL BANK OF PENNSYLVANIA, which was approved in April, 2020.
Based on standard PPP eligibility rules, CT Consultants Inc's total 2019 payroll expenses were approximately $21.89M in order to qualify for the PPP loan amount received.
Based on their reported 257 jobs retained, this equals an estimated average yearly compensation of $85,186 per employee1.
Business Information - CT Consultants Inc in Mentor, OH
8150 Sterling Ct
Mentor, OH 44060
Engineering Services (NAICS code 541330)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: OH-14
Similar Companies near Mentor
In the Mentor area, 7 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 257) and received an average PPP loan of $667,746 (compared to this company's $4.56M).
Similar Nearby Businesses Who Received PPP Funding:
Western Reserve Engineering, LLC
Mentor Technical Services Inc
Foundry Support Operations, LLC
Eagle Technologies Inc
Kicher & Co
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, 95% lower than CT Consultants Inc's reported 257 employees, and received an average PPP loan of $249,856, 95% lower than this company's loan of $4.56M.
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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