PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Asbestos Analytical Lab. Corp, East Brunswick, NJ

ALERT: There are 2 PPP loans for a total of $52,402 in our database for businesses with the name "Asbestos Analytical Lab. Corp" in East Brunswick, NJ. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Asbestos Analytical Lab. Corp
NJ

Asbestos Analytical Lab. Corp

Entity: Corporation

Industry: Testing Laboratories

Location: East Brunswick, NJ

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Asbestos Analytical Lab. Corp is a corporation located at 51 Gage Rd in East Brunswick, New Jersey that received a Coronavirus-related PPP loan from the SBA of $27,402.00 in March, 2021.

$ PPP Loan Information
Loan #6447778503

Loan Size:

$27,402

Jobs Retained:

3

Loan Approved:

2021-03-03

Loan Status:

Ongoing Loan

Lender:

Republic First Bank d/b/a Republic Bank

Asbestos Analytical Lab. Corp in East Brunswick, NJ received a Paycheck Protection Loan of $27,402 through Republic First Bank d/b/a Republic Bank, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Asbestos Analytical Lab. Corp's 2019 payroll expenses are estimated to be at least $131,530.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $43,843 per employee1

Reported PPP Proceed Usage:

On the PPP application, Asbestos Analytical Lab. Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $27,399

Business Information - Asbestos Analytical Lab. Corp in East Brunswick, NJ

Asbestos Analytical Lab. Corp
51 Gage Rd
East Brunswick, NJ 8816

Business Industry:
Testing Laboratories
NAICS code 541380

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Middlesex County, NJ — SBA Office 0299 — Congressional District: NJ-12

Similar Companies near East Brunswick

In the East Brunswick area, 3 businesses in the "Testing Laboratories" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 3) and received an average PPP loan of $294,596 (compared to this company's $27,402).

Industry PPP Comparison Statistics

Nationwide, 4,541 businesses in the "Testing Laboratories" industry received a total of $814.04M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 16 employees, 433% higher than Asbestos Analytical Lab. Corp's reported 3 employees, and received an average PPP loan of $179,264, 554% higher than this company's loan of $27,402.

SBA PPP loan data, payroll data, and salaries for Asbestos Analytical Lab, Corp
NJ

Asbestos Analytical Lab, Corp

Entity: Corporation

Industry: Analytical Laboratory Instrument Manufacturing

Location: East Brunswick, NJ

Search All PPP Data

Asbestos Analytical Lab, Corp is a corporation located at 51 Gage Rd in East Brunswick, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.

$ PPP Loan Information
Loan #4047117804

Loan Size:

$25,000

Jobs Retained:

2

Loan Approved:

2020-05-27

Loan Status:

Paid in Full or Forgiven

Lender:

Republic First Bank d/b/a Republic Bank

Asbestos Analytical Lab, Corp in East Brunswick, NJ received a Paycheck Protection Loan of $25,000 through Republic First Bank d/b/a Republic Bank, which was approved in May, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Asbestos Analytical Lab, Corp's 2019 payroll expenses are estimated to be at least $120,000.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Asbestos Analytical Lab, Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,000

Business Information - Asbestos Analytical Lab, Corp in East Brunswick, NJ

Asbestos Analytical Lab, Corp
51 Gage Rd
East Brunswick, NJ 8816

Business Industry:
Analytical Laboratory Instrument Manufacturing
NAICS code 334516

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Middlesex County, NJ — SBA Office 0299 — Congressional District: NJ-12

Industry PPP Comparison Statistics

Nationwide, 752 businesses in the "Analytical Laboratory Instrument Manufacturing" industry received a total of $200.62M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 18 employees, 800% higher than Asbestos Analytical Lab, Corp's reported 2 employees, and received an average PPP loan of $266,787, 967% higher than this company's loan of $25,000.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/asbestos-analytical-lab-corp-east-brunswick-nj