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PPP Loan Data — Quartus Engineering Incorporated,
San Diego, CA
Quartus Engineering Incorporated
Entity: Corporation
Industry: Engineering Services
Location: San Diego, CA
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Quartus Engineering Incorporated is a corporation located at 9689 Towne Centre Dr in San Diego, California that received a Coronavirus-related PPP loan from the SBA of $1,600,000.00 in March, 2021.
$
PPP Loan Information
Loan #9070718510
Loan Size:
Jobs Retained:
126Loan Approved:
2021-03-12Loan Status:
Ongoing LoanLender:
Citibank, N.A.Quartus Engineering Incorporated in San Diego, CA received a Paycheck Protection Loan of $1.6M through Citibank, N.A., which was approved in March, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Quartus Engineering Incorporated's 2019 payroll expenses are estimated to be at least $7.68M.
Based on their reported 126 jobs retained, this equals an estimated average yearly compensation of $60,952 per employee1
Reported PPP Proceed Usage:
On the PPP application, Quartus Engineering Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,599,994
- Utilities: $1
Business Information - Quartus Engineering Incorporated in San Diego, CA
9689 Towne Centre Dr
San Diego, CA 92121
Business Industry:
Engineering Services
NAICS code 541330
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near San Diego
In the San Diego area, 82 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 126) and received an average PPP loan of $398,549 (compared to this company's $1.6M).
Similar Nearby Businesses Who Received PPP Funding:
Aquacycl LLC
San Diego, CA
Green Domain Design LLC
San Diego, CA
Piper Network Inc
San Diego, CA
Hargis + Associates, Inc
San Diego, CA
Turley Engineering
San Diego, CA
Geocon Consultants, Inc
San Diego, CA
Valtech Engineering
San Diego, CA
Advanced Technologies Consultants Inc
San Diego, CA
Sivaltech Inc
San Diego, CA
Industry PPP Comparison Statistics
Nationwide, 46,579 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, 90% lower than Quartus Engineering Incorporated's reported 126 employees, and received an average PPP loan of $196,935, 88% lower than this company's loan of $1.6M.
Quartus Engineering Incorporated
Entity: Corporation
Industry: Engineering Services
Location: San Diego, CA
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•
Search All PPP Data
Quartus Engineering Incorporated is a corporation located at 9689 Towne Center Dr in San Diego, California that received a Coronavirus-related PPP loan from the SBA of $2,647,300.00 in April, 2020.
$
PPP Loan Information
Loan #9752437107
Loan Size:
Jobs Retained:
128Loan Approved:
2020-04-15Loan Status:
Paid in Full or ForgivenLender:
Citibank, N.A.Quartus Engineering Incorporated in San Diego, CA received a Paycheck Protection Loan of $2.65M through Citibank, N.A., 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 August, 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, Quartus Engineering Incorporated's 2019 payroll expenses are estimated to be at least $12.71M.
Based on their reported 128 jobs retained, this equals an estimated average yearly compensation of $99,274 per employee1
Reported PPP Proceed Usage:
On the PPP application, Quartus Engineering Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Utilities: $2,647,300
Business Information - Quartus Engineering Incorporated in San Diego, CA
9689 Towne Center Dr
San Diego, CA 92121
Business Industry:
Engineering Services
NAICS code 541330
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near San Diego
In the San Diego area, 82 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 128) and received an average PPP loan of $398,549 (compared to this company's $2.65M).
Similar Nearby Businesses Who Received PPP Funding:
Aquacycl LLC
San Diego, CA
Green Domain Design LLC
San Diego, CA
Piper Network Inc
San Diego, CA
Hargis + Associates, Inc
San Diego, CA
Turley Engineering
San Diego, CA
Geocon Consultants, Inc
San Diego, CA
Valtech Engineering
San Diego, CA
Advanced Technologies Consultants Inc
San Diego, CA
Sivaltech Inc
San Diego, CA
Industry PPP Comparison Statistics
Nationwide, 46,579 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, 90% lower than Quartus Engineering Incorporated's reported 128 employees, and received an average PPP loan of $196,935, 93% lower than this company's loan of $2.65M.
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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