PPP Loan Data — NCS Technologies Inc, Piscataway, NJ
NCS Technologies Inc is a subchapter s corporation located at 15 Corporate Pl S Suite 200 in Piscataway, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,315,340.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 89 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
NCS Technologies Inc in Piscataway, NJ received a Paycheck Protection Loan of $2.32M through TD Bank, National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 111. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, NCS Technologies Inc's 2019 payroll expenses are estimated to be at least $11.11M (not accounting for salary amounts > $100k).
Because the 89 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, NCS Technologies Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,315,340
Business Information - NCS Technologies Inc in Piscataway, NJ
15 Corporate Pl S Suite 200
Piscataway, NJ 8854
Other Computer Related Services
NAICS code 541519
Business Owner Demographics
Ethnicity: 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 Piscataway
In the Piscataway area, 22 businesses in the "Other Computer Related Services" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 89) and received an average PPP loan of $405,610 (compared to this company's $2.32M).
Similar Nearby Businesses Who Received PPP Funding:
Externetworks (India) Private Limited
Foregen Solutions LLC
DM Logic Associates Corporation
Yangtze River Consulting Service LLC
Softions Consulting Inc
Pike Solutions Inc
Industry PPP Comparison Statistics
Nationwide, 25,371 businesses in the "Other Computer Related Services" industry received a total of $3.1B 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 8 employees, 91% lower than NCS Technologies Inc's reported 89 employees, and received an average PPP loan of $122,066, 95% lower than this company's loan of $2.32M.
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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