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PPP Loan Data — Precise Systems Inc, Lexington Park, MD

SBA PPP loan data, payroll data, and salaries for Precise Systems Inc
MD

Precise Systems Inc

Entity: Corporation

Industry: All Other Professional, Scientific, and Technical Services

Location: Lexington Park, MD

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Precise Systems Inc is a corporation located at 22290 Exploration Dr in Lexington Park, Maryland that received a Coronavirus-related PPP loan from the SBA of $6,694,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.69M

Jobs Retained:

470

Loan Approved:

2020-04-10

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

Precise Systems Inc received a Paycheck Protection Loan of $6.69M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.

Based on standard PPP eligibility rules, Precise Systems Inc's total 2019 payroll expenses were approximately $32.13M in order to qualify for the PPP loan amount received.

Based on their reported 470 jobs retained, this equals an estimated average yearly compensation of $68,370 per employee1.

Because the loan received by Precise Systems Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Precise Systems Inc in Lexington Park, MD

Precise Systems Inc
22290 Exploration Dr
Lexington Park, MD 20653

Business Industry

All Other Professional, Scientific, and Technical Services (NAICS code 541990)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MD-05

Similar Companies near Lexington Park

In the Lexington Park area, 2 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 242 employees (compared to this company's 470) and received an average PPP loan of $3,434,878 (compared to this company's $6.69M).

Similar Nearby Businesses Who Received PPP Funding:

Steve Hawkins
Lexington Park, MD

$175,155 PPP Loan

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, 99% lower than Precise Systems Inc's reported 470 employees, and received an average PPP loan of $74,488, 99% lower than this company's loan of $6.69M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/precise-systems-inc-lexington-park-md