PPP Loan Data — Mclaren Technical Services, Inc. Esop Trust, Woodcliff Lake, NJ
Mclaren Technical Services, Inc. Esop Trust is a limited liability company (LLC) located at 530 Chestnut Ridge Road in Woodcliff Lake, New Jersey that received a Coronavirus-related PPP loan from the SBA of $4,626,072.00 in April, 2020.
$ PPP Loan Information
Lender:MANUFACTURERS AND TRADERS TRUST COMPANY
Mclaren Technical Services, Inc. Esop Trust in Woodcliff Lake, NJ received a Paycheck Protection Loan of $4.63M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Mclaren Technical Services, Inc. Esop Trust's total 2019 payroll expenses were approximately $22.21M in order to qualify for the PPP loan amount received.
Based on their reported 240 jobs retained, this equals an estimated average yearly compensation of $92,521 per employee1.
Business Information - Mclaren Technical Services, Inc. Esop Trust in Woodcliff Lake, NJ
530 Chestnut Ridge Road
Woodcliff Lake, NJ 07677
Engineering Services (NAICS code 541330)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NJ-05
Similar Companies near Woodcliff Lake
In the Woodcliff Lake area, 2 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 120 employees (compared to this company's 240) and received an average PPP loan of $2,358,559 (compared to this company's $4.63M).
Similar Nearby Businesses Who Received PPP Funding:
Beckmeyer Engineering PC
Township Of Washington, NJ
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, 94% lower than Mclaren Technical Services, Inc. Esop Trust's reported 240 employees, and received an average PPP loan of $249,856, 95% lower than this company's loan of $4.63M.
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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