PPP Loan Data — Moseley Technical Services, Inc, Huntsville, AL
Moseley Technical Services, Inc
Entity: Subchapter S Corporation
Location: Huntsville, ALTweet This • Search All PPP Data
Moseley Technical Services, Inc is a subchapter s corporation located at 7500 Memorial Parkway Southwest in Huntsville, Alabama that received a Coronavirus-related PPP loan from the SBA of $4,765,500.00 in April, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least ten people during the applicable loan loan period.
$ PPP Loan Information
Lender:SOUTH STATE BANK, NATIONAL ASSOCIATION
Moseley Technical Services, Inc received a Paycheck Protection Loan of $4.77M through SOUTH STATE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 10 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 229.
Based on standard PPP eligibility rules, Moseley Technical Services, Inc's total 2019 payroll expenses were approximately $22.87M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 10 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Moseley Technical Services, Inc in Huntsville, AL
7500 Memorial Parkway Southwest
Huntsville, AL 35802
All Other Professional, Scientific, and Technical Services (NAICS code 541990)
Business Owner Demographics
Race / Ethnicity: BLACK OR AFRICAN AMERICAN
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: AL-05
Similar Companies near Huntsville
In the Huntsville area, 26 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 10) and received an average PPP loan of $260,118 (compared to this company's $4.77M).
Similar Nearby Businesses Who Received PPP Funding:
Nsam Enterprises, LLC
Ken Rivenbark LLC
Latham United Methodist Church
Manufacturers Marketing Group, Inc.
Gordon P Harris
Millennium Medical Billing & Physician Service, Inc
Industry PPP Comparison Statistics
Nationwide, 63,722 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $4,746,522,934.00 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 6 employees, 40% lower than Moseley Technical Services, Inc's reported 10 employees, and received an average PPP loan of $74,488, 98% lower than this company's loan of $4.77M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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