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PPP Loan Data — Advisors Mortgage Group LLC, Ocean, NJ

SBA PPP loan data, payroll data, and salaries for Advisors Mortgage Group LLC
NJ

Advisors Mortgage Group LLC

Entity: Corporation

Industry: Mortgage and Nonmortgage Loan Brokers

Location: Ocean, NJ

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Advisors Mortgage Group LLC is a corporation located at 1411 State Route 35 in Ocean, New Jersey that received a Coronavirus-related PPP loan from the SBA of $4,032,800.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 274 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.03M

Jobs Retained:

274

Loan Approved:

2020-04-27

Lender:

FIRST NORTHERN BANK AND TRUST COMPANY

Advisors Mortgage Group LLC received a Paycheck Protection Loan of $4.03M through FIRST NORTHERN BANK AND TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Advisors Mortgage Group LLC's total 2019 payroll expenses were approximately $19.36M in order to qualify for the PPP loan amount received.

Based on their reported 274 jobs retained, this equals an estimated average yearly compensation of $70,648 per employee1.

Because the loan received by Advisors Mortgage Group LLC 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 - Advisors Mortgage Group LLC in Ocean, NJ

Advisors Mortgage Group LLC
1411 State Route 35
Ocean, NJ 7712

Business Industry

Mortgage and Nonmortgage Loan Brokers (NAICS code 522310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: NJ-04

Industry PPP Comparison Statistics

Nationwide, 4,330 businesses in the "Mortgage and Nonmortgage Loan Brokers" industry received a total of $593,727,712.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 9 employees, 97% lower than Advisors Mortgage Group LLC's reported 274 employees, and received an average PPP loan of $137,120, 97% lower than this company's loan of $4.03M.

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.

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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/advisors-mortgage-group-llc-ocean-nj