PPP Loan Data — Geotechnical Partnership Inc, Swampscott, MA
Geotechnical Partnership Inc is a corporation located at 45 New Ocean St in Swampscott, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Partners Bank of New England
Geotechnical Partnership Inc in Swampscott, MA received a Paycheck Protection Loan of $25,000 through Partners Bank of New England, 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 March, 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, Geotechnical Partnership Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Geotechnical Partnership Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Geotechnical Partnership Inc in Swampscott, MA
45 New Ocean St
Swampscott, MA 1907
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 Swampscott
In the Swampscott area, 7 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $40,031 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Prism Engineer LLC
Dewsnap Engineering Associates LLP
Engineering Alliance, LLC
Otte And Dwyer Inc
Erik D. Heyland
Atlantic Engineering And Enterprises 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, 333% higher than Geotechnical Partnership Inc's reported 3 employees, and received an average PPP loan of $194,873, 679% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!