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PPP Loan Data — Utrs Inc, Cherry Hill, NJ

SBA PPP loan data, payroll data, and salaries for Utrs Inc
NJ

Utrs Inc

Entity: Corporation

Industry: Engineering Services

Location: Cherry Hill, NJ

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Utrs Inc is a corporation located at 950 North Kings Hwy Suite 208 in Cherry Hill, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,881,112.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$1.88M

Jobs Retained:

259

Loan Approved:

2020-04-11

Lender:

FULTON BANK, NATIONAL ASSOCIATION

Utrs Inc received a Paycheck Protection Loan of $1.88M through FULTON BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Utrs Inc's total 2019 payroll expenses were approximately $9.03M in order to qualify for the PPP loan amount received.

Based on their reported 259 jobs retained, this equals an estimated average yearly compensation of $34,862 per employee1.

Business Information - Utrs Inc in Cherry Hill, NJ

Utrs Inc
950 North Kings Hwy Suite 208
Cherry Hill, NJ 8034

Business Industry

Engineering Services (NAICS code 541330)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-01

Similar Companies near Cherry Hill

In the Cherry Hill area, 10 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 83 employees (compared to this company's 259) and received an average PPP loan of $1,114,872 (compared to this company's $1.88M).

Industry PPP Comparison Statistics

Nationwide, 28,113 businesses in the "Engineering Services" industry received a total of $7,024,215,141.00 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 14 employees, 95% lower than Utrs Inc's reported 259 employees, and received an average PPP loan of $249,856, 87% lower than this company's loan of $1.88M.

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.

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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/utrs-inc-cherry-hill-nj