PPP Loan Data — Foster Engineering & Consulting, LLC, Columbia, SC
Foster Engineering & Consulting, LLC is a corporation located at 1539 Brockwall Drive in Columbia, South Carolina that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Foster Engineering & Consulting, LLC in Columbia, SC received a Paycheck Protection Loan of $24,900 through Truist Bank d/b/a Branch Banking & Trust Co, 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 February, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based 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, Foster Engineering & Consulting, LLC's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $19,920 per employee1
Reported PPP Proceed Usage:
On the PPP application, Foster Engineering & Consulting, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Foster Engineering & Consulting, LLC in Columbia, SC
1539 Brockwall Drive
Columbia, SC 29206
NAICS code 541330
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Columbia
In the Columbia area, 11 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 6) and received an average PPP loan of $152,685 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Harvey O Lucas Jr Pe
Synergy Environmental And Geophysical Service
Vista Engineering LLC
HPG And Company Consulting Engineers Inc
Jacob Rice Engineering, LLC
COX And Dinkins Inc
Mertech It Solutions LLC
Industry PPP Comparison Statistics
Nationwide, 47,152 businesses in the "Engineering Services" industry received a total of $9.19B 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 13 employees, 117% higher than Foster Engineering & Consulting, LLC's reported 6 employees, and received an average PPP loan of $194,873, 683% higher than this company's loan of $24,900.
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Footnotes & Information
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