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PPP Loan Data — Allstate Sales Group, Inc.,
Holmdel, NJ
Allstate Sales Group, Inc.
Entity: Corporation
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: Holmdel, NJ
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Allstate Sales Group, Inc. is a corporation located at 670 North Beers Street in Holmdel, New Jersey that received a Coronavirus-related PPP loan from the SBA of $5,153,855.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 492 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
492Loan Approved:
2020-04-13Lender:
MANUFACTURERS AND TRADERS TRUST COMPANYAllstate Sales Group, Inc. in Holmdel, NJ received a Paycheck Protection Loan of $5.15M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Allstate Sales Group, Inc.'s total 2019 payroll expenses were approximately $24.74M in order to qualify for the PPP loan amount received.
Based on their reported 492 jobs retained, this equals an estimated average yearly compensation of $50,282 per employee1.
Business Information - Allstate Sales Group, Inc. in Holmdel, NJ
670 North Beers Street
Holmdel, NJ 7733
Business Industry
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: Unreported
Congressional District: NJ-04Similar Companies near Holmdel
In the Holmdel area, 3 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 200 employees (compared to this company's 492) and received an average PPP loan of $2,201,952 (compared to this company's $5.15M).
Similar Nearby Businesses Who Received PPP Funding:
Manor II Electric
Holmdel, NJ
Suntuity Electric LLC
Holmdel, NJ
Industry PPP Comparison Statistics
Nationwide, 44,489 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $8,060,101,877.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 12 employees, 98% lower than Allstate Sales Group, Inc.'s reported 492 employees, and received an average PPP loan of $181,171, 96% lower than this company's loan of $5.15M.
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, 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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