Scientific Research and Development Services

Businesses and organizations in the Scientific Research and Development Services industry (NAICS code 5417, part of the Professional, Scientific, and Technical Services sector) received 13,302 PPP loans totaling $2.23B during the COVID-19 pandemic.

The average loan for this industry was $167,665 — above the national PPP average of approximately $67,000. This reflects the relatively large size of many businesses in this sector, which tend to have higher payroll costs and more employees.

96.3% of loans in this industry were forgiven — totaling $2.06B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include GUARDIAN SERVICE INDUSTRIES, INC. of NEW YORK, NY ($10,000,000); ADVANCED CLINICAL HOLDINGS, INC. of DEERFIELD, IL ($10,000,000); and NAVATEK LLC of HONOLULU, HI ($10,000,000).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Professional, Scientific, and Technical Services sector — legal, accounting, architectural, engineering, research, advertising, and related services. — businesses in NAICS 5417 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.