PPP Loan Data — Advisors Mortgage Group LLC, Ocean, NJ
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
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.
Business Information - Advisors Mortgage Group LLC in Ocean, NJ
1411 State Route 35
Ocean, NJ 7712
Mortgage and Nonmortgage Loan Brokers (NAICS code 522310)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional 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.
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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