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PPP Loan Data — Marine Systems Corporation, Boston, MA

SBA PPP loan data, payroll data, and salaries for Marine Systems Corporation

Marine Systems Corporation

Entity: Corporation

Industry: Engineering Services

Location: Boston, MA

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Marine Systems Corporation is a corporation located at 23 Drydock Ave Suite 620w in Boston, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,554,007.00 in April, 2020.

$ PPP Loan Information

Loan Size:


Jobs Retained:


Loan Approved:




Marine Systems Corporation received a Paycheck Protection Loan of $2.55M through TD BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Marine Systems Corporation's total 2019 payroll expenses were approximately $12.26M in order to qualify for the PPP loan amount received.

Based on their reported 133 jobs retained, this equals an estimated average yearly compensation of $92,175 per employee1.

Because the loan received by Marine Systems Corporation 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 - Marine Systems Corporation in Boston, MA

Marine Systems Corporation
23 Drydock Ave Suite 620w
Boston, MA 2210

Business Industry

Engineering Services (NAICS code 541330)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-08

Similar Companies near Boston

In the Boston area, 7 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 98 employees (compared to this company's 133) and received an average PPP loan of $1,760,210 (compared to this company's $2.55M).

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, 89% lower than Marine Systems Corporation's reported 133 employees, and received an average PPP loan of $249,856, 90% lower than this company's loan of $2.55M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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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 - The Civil Employee's Resource **