PPP Loan Data — GEO-Technology Associates, Inc, Abingdon, MD
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
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.
Business Information - GEO-Technology Associates, Inc in Abingdon, MD
3445-b Box Hill Corporate Center Drive
Abingdon, MD 21009
Engineering Services (NAICS code 541330)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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
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.
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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