PPP Loan Data — Masterpeace Solutions LTD, Columbia, MD
Masterpeace Solutions LTD
Entity: Limited Liability Company (LLC)
Location: Columbia, MDTweet This • Search All PPP Data
Masterpeace Solutions LTD is a limited liability company (LLC) located at 6731 Columbia Gateway in Columbia, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,293,661.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 153 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fulton Bank, National Association
Masterpeace Solutions LTD in Columbia, MD received a Paycheck Protection Loan of $2.29M through Fulton Bank, National Association, 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, Masterpeace Solutions LTD's 2019 payroll expenses are estimated to be at least $11.01M.
Based on their reported 153 jobs retained, this equals an estimated average yearly compensation of $71,958 per employee1
Reported PPP Proceed Usage:
On the PPP application, Masterpeace Solutions LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,720,246
- Mortgage Interest: $573,415
Business Information - Masterpeace Solutions LTD in Columbia, MD
6731 Columbia Gateway
Columbia, MD 21046
Other Scientific and Technical Consulting Services
NAICS code 541690
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Columbia
In the Columbia area, 25 businesses in the "Other Scientific and Technical Consulting Services" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 153) and received an average PPP loan of $382,569 (compared to this company's $2.29M).
Similar Nearby Businesses Who Received PPP Funding:
The HR Team, Inc
Business Support Associates LLC
IQ Technology, Inc
Genepria Consulting Inc
Camden Solutions, LLC
Kilee Solutions, Inc
Industry PPP Comparison Statistics
Nationwide, 28,306 businesses in the "Other Scientific and Technical Consulting Services" industry received a total of $2.1B 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 6 employees, 96% lower than Masterpeace Solutions LTD's reported 153 employees, and received an average PPP loan of $74,096, 97% lower than this company's loan of $2.29M.
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