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PPP Loan Data — GEO-Technology Associates, Inc, Abingdon, MD

SBA PPP loan data, payroll data, and salaries for GEO-Technology Associates, Inc
MD

GEO-Technology Associates, Inc

Entity: Corporation

Industry: Engineering Services

Location: Abingdon, MD

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GEO-Technology Associates, Inc is a corporation located at 3445-b Box Hill Corporate Center Drive in Abingdon, Maryland that received a Coronavirus-related PPP loan from the SBA of $3,838,850.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.84M

Jobs Retained:

316

Loan Approved:

2020-04-07

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

GEO-Technology Associates, Inc in Abingdon, MD received a Paycheck Protection Loan of $3.84M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.

Based on standard PPP eligibility rules, GEO-Technology Associates, Inc's total 2019 payroll expenses were approximately $18.43M in order to qualify for the PPP loan amount received.

Based on their reported 316 jobs retained, this equals an estimated average yearly compensation of $58,312 per employee1.

Because the loan received by GEO-Technology Associates, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - GEO-Technology Associates, Inc in Abingdon, MD

GEO-Technology Associates, Inc
3445-b Box Hill Corporate Center Drive
Abingdon, MD 21009

Business Industry

Engineering Services (NAICS code 541330)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MD-02

Similar Companies near Abingdon

In the Abingdon area, 2 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 159 employees (compared to this company's 316) and received an average PPP loan of $1,926,925 (compared to this company's $3.84M).

Similar Nearby Businesses Who Received PPP Funding:

Spyder Engineers LLC
Abingdon, MD

$15,000 PPP Loan

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, 96% lower than GEO-Technology Associates, Inc's reported 316 employees, and received an average PPP loan of $249,856, 93% lower than this company's loan of $3.84M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/geo-technology-associates-inc-abingdon-md