PPP Loan Data — Institute For Building Technology And Safety, Ashburn, VA
Institute For Building Technology And Safety is a non-profit organization located at 45207 Research Pl in Ashburn, Virginia that received a Coronavirus-related PPP loan from the SBA of $3,083,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Atlantic Union Bank
Institute For Building Technology And Safety in Ashburn, VA received a Paycheck Protection Loan of $3.08M through Atlantic Union Bank, which was approved in April, 2020.
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, Institute For Building Technology And Safety's 2019 payroll expenses are estimated to be at least $14.8M.
Based on their reported 179 jobs retained, this equals an estimated average yearly compensation of $82,681 per employee1
Reported PPP Proceed Usage:
On the PPP application, Institute For Building Technology And Safety reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,083,300
Business Information - Institute For Building Technology And Safety in Ashburn, VA
45207 Research Pl
Ashburn, VA 20147
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 Ashburn
In the Ashburn area, 29 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 179) and received an average PPP loan of $291,196 (compared to this company's $3.08M).
Similar Nearby Businesses Who Received PPP Funding:
Advanced Design Solutions Inc
Precise Structural Designs LLC
Stonebridge Civil LLC
KLS Engineering LLC
Dunn Telecom LLC
Security Mantra Corp
Gall Zeidler Consultants LLC
Industry PPP Comparison Statistics
Nationwide, 42,689 businesses in the "Engineering Services" industry received a total of $8.99B 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 14 employees, 92% lower than Institute For Building Technology And Safety's reported 179 employees, and received an average PPP loan of $210,573, 93% lower than this company's loan of $3.08M.
FederalPay's PPP Information Policy
Footnotes & Information
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