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PPP Loan Data — MS Technology Inc,
Oak Ridge, TN
MS Technology Inc
Entity: Corporation
Industry: Engineering Services
Location: Oak Ridge, TN
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MS Technology Inc is a corporation located at 137 Union Valley Rd in Oak Ridge, Tennessee that received a Coronavirus-related PPP loan from the SBA of $394,718.00 in January, 2021.
The company has reported itself as an American indian or alaska native male owned business, and employed at least 58 people during the applicable loan loan period.
$
PPP Loan Information
Loan #6838778304
Loan Size:
Jobs Retained:
58Loan Approved:
2021-01-27Loan Status:
Paid in Full or ForgivenLender:
Regions BankMS Technology Inc in Oak Ridge, TN received a Paycheck Protection Loan of $394,718 through Regions Bank, which was approved in January, 2021.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, MS Technology Inc's 2019 payroll expenses are estimated to be at least $1.89M.
Based on their reported 58 jobs retained, this equals an estimated average yearly compensation of $32,666 per employee1
Reported PPP Proceed Usage:
On the PPP application, MS Technology Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $394,718
Business Information - MS Technology Inc in Oak Ridge, TN
137 Union Valley Rd
Oak Ridge, TN 37830
Business Industry:
Engineering Services
NAICS code 541330
Business Owner Demographics
Race: American Indian or Alaska Native
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Rural
Similar Companies near Oak Ridge
In the Oak Ridge area, 12 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 58) and received an average PPP loan of $708,720 (compared to this company's $394,718).
Similar Nearby Businesses Who Received PPP Funding:
Lancaster Services Inc
Oak Ridge, TN
Theta Technologies Inc
Oak Ridge, TN
Xcel Engineering Inc
Oak Ridge, TN
Process Engineering Associates, LLC
Oak Ridge, TN
Diversified Service Associates, Inc
Oak Ridge, TN
Professional Project Services, Inc
Oak Ridge, TN
CG Services Corporation
Oak Ridge, TN
Industry PPP Comparison Statistics
Nationwide, 46,563 businesses in the "Engineering Services" industry received a total of $9.17B 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 13 employees, 78% lower than MS Technology Inc's reported 58 employees, and received an average PPP loan of $196,989, 50% lower than this company's loan of $394,718.
MS Technology, Inc
Entity: Corporation
Industry: Engineering Services
Location: Oak Ridge, TN
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•
Search All PPP Data
MS Technology, Inc is a corporation located at 137 Union Valley Road in Oak Ridge, Tennessee that received a Coronavirus-related PPP loan from the SBA of $389,500.00 in April, 2020.
The company has reported itself as an American indian or alaska native male owned business, and employed at least 25 people during the applicable loan loan period.
$
PPP Loan Information
Loan #1064507104
Loan Size:
Jobs Retained:
25Loan Approved:
2020-04-09Loan Status:
Paid in Full or ForgivenLender:
Regions BankMS Technology, Inc in Oak Ridge, TN received a Paycheck Protection Loan of $389,500 through Regions Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, MS Technology, Inc's 2019 payroll expenses are estimated to be at least $1.87M.
Based on their reported 25 jobs retained, this equals an estimated average yearly compensation of $74,784 per employee1
Reported PPP Proceed Usage:
On the PPP application, MS Technology, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $389,500
Business Information - MS Technology, Inc in Oak Ridge, TN
137 Union Valley Road
Oak Ridge, TN 37830
Business Industry:
Engineering Services
NAICS code 541330
Business Owner Demographics
Race: American Indian or Alaska Native
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Rural
Similar Companies near Oak Ridge
In the Oak Ridge area, 12 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 25) and received an average PPP loan of $708,720 (compared to this company's $389,500).
Similar Nearby Businesses Who Received PPP Funding:
Lancaster Services Inc
Oak Ridge, TN
Theta Technologies Inc
Oak Ridge, TN
Xcel Engineering Inc
Oak Ridge, TN
Process Engineering Associates, LLC
Oak Ridge, TN
Diversified Service Associates, Inc
Oak Ridge, TN
Professional Project Services, Inc
Oak Ridge, TN
CG Services Corporation
Oak Ridge, TN
Industry PPP Comparison Statistics
Nationwide, 46,563 businesses in the "Engineering Services" industry received a total of $9.17B 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 13 employees, 48% lower than MS Technology, Inc's reported 25 employees, and received an average PPP loan of $196,989, 49% lower than this company's loan of $389,500.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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