PPP Loan Data — Towson Mechanical, Inc, Parkville, MD
Towson Mechanical, Inc
Location: Parkville, MDTweet This • Search All PPP Data
Towson Mechanical, Inc is a corporation located at 8651 Oakleigh Rd in Parkville, Maryland that received a Coronavirus-related PPP loan from the SBA of $1,511,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Sandy Spring Bank
Towson Mechanical, Inc in Parkville, MD received a Paycheck Protection Loan of $1.51M through Sandy Spring Bank, which was approved in April, 2020.
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, Towson Mechanical, Inc's 2019 payroll expenses are estimated to be at least $7.25M.
Based on their reported 85 jobs retained, this equals an estimated average yearly compensation of $85,327 per employee1
Reported PPP Proceed Usage:
On the PPP application, Towson Mechanical, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,511,000
Business Information - Towson Mechanical, Inc in Parkville, MD
8651 Oakleigh Rd
Parkville, MD 21234
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Parkville
In the Parkville area, 16 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 85) and received an average PPP loan of $166,593 (compared to this company's $1.51M).
Similar Nearby Businesses Who Received PPP Funding:
Mid Atlantic Site Support LLC
Sean Stenhouse Stenhouse
King Construction Inc
Management & Construction Services LLC
Kids First Construction Company, Inc
Timothy P Shanahan DBA Tps Construction
Atlantic Enterprise LLC
Industry PPP Comparison Statistics
Nationwide, 78,873 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.41B 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 12 employees, 86% lower than Towson Mechanical, Inc's reported 85 employees, and received an average PPP loan of $157,325, 90% lower than this company's loan of $1.51M.
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