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PPP Loan Data — Astor Chocolate Corp, Lakewood, NJ

SBA PPP loan data, payroll data, and salaries for Astor Chocolate Corp
NJ

Astor Chocolate Corp

Entity: Corporation

Industry: Chocolate and Confectionery Manufacturing from Cacao Beans

Location: Lakewood, NJ

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Astor Chocolate Corp is a corporation located at 651 New Hampshire Ave in Lakewood, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,494,445.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.49M

Jobs Retained:

220

Loan Approved:

2020-04-15

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Astor Chocolate Corp in Lakewood, NJ received a Paycheck Protection Loan of $2.49M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Astor Chocolate Corp's total 2019 payroll expenses were approximately $11.97M in order to qualify for the PPP loan amount received.

Based on their reported 220 jobs retained, this equals an estimated average yearly compensation of $54,424 per employee1.

Because the loan received by Astor Chocolate Corp 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 - Astor Chocolate Corp in Lakewood, NJ

Astor Chocolate Corp
651 New Hampshire Ave
Lakewood, NJ 8701

Business Industry

Chocolate and Confectionery Manufacturing from Cacao Beans (NAICS code 311351)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-04

Industry PPP Comparison Statistics

Nationwide, 252 businesses in the "Chocolate and Confectionery Manufacturing from Cacao Beans" industry received a total of $42,580,708.00 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 17 employees, 92% lower than Astor Chocolate Corp's reported 220 employees, and received an average PPP loan of $168,971, 93% lower than this company's loan of $2.49M.

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.

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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/astor-chocolate-corp-lakewood-nj