PPP Loan Data — Bind-Rite Services Inc, South Hackensack, NJ
Bind-Rite Services Inc is a corporation located at 16 Horizon Blvd in South Hackensack, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,141,213.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Bind-Rite Services Inc in South Hackensack, NJ received a Paycheck Protection Loan of $2.14M through Bank of America, National Association, which was approved in May, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Bind-Rite Services Inc's 2019 payroll expenses are estimated to be at least $10.28M.
Based on their reported 196 jobs retained, this equals an estimated average yearly compensation of $52,438 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bind-Rite Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,141,213
Business Information - Bind-Rite Services Inc in South Hackensack, NJ
16 Horizon Blvd
South Hackensack, NJ 7606
Commercial Printing (except Screen and Books)
NAICS code 323111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near South Hackensack
In the South Hackensack area, 11 businesses in the "Commercial Printing (except Screen and Books)" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 196) and received an average PPP loan of $262,157 (compared to this company's $2.14M).
Similar Nearby Businesses Who Received PPP Funding:
Inkfish Print LLC-Sba Small 7A Term
Dolce Brothers Printing Inc
Integrated Graphics Systems
The Print Group
South Hackensack, NJ
Integrated Graphic Systems Inc
Parsells Printing And Design LLC
Victory Print & Digital Media LLC
Industry PPP Comparison Statistics
Nationwide, 23,988 businesses in the "Commercial Printing (except Screen and Books)" industry received a total of $3.07B 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 12 employees, 94% lower than Bind-Rite Services Inc's reported 196 employees, and received an average PPP loan of $128,160, 94% lower than this company's loan of $2.14M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!