PPP Loan Data — Buda Bean, Inc, Carlstadt, NJ
Buda Bean, Inc
Location: Carlstadt, NJTweet This • Search All PPP Data
Buda Bean, Inc is a corporation located at 333 1st St in Carlstadt, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
The company has reported itself as an Asian owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Shinhan Bank America
Buda Bean, Inc in Carlstadt, NJ received a Paycheck Protection Loan of $25,100 through Shinhan Bank America, which was approved in April, 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 April, 2021.
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, Buda Bean, Inc's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,120 per employee1
Reported PPP Proceed Usage:
On the PPP application, Buda Bean, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,825
- Rent: $6,275
Business Information - Buda Bean, Inc in Carlstadt, NJ
333 1st St
Carlstadt, NJ 7072
Men's and Boys' Clothing and Furnishings Merchant Wholesalers
NAICS code 424320
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Carlstadt
In the Carlstadt area, 14 businesses in the "Men's and Boys' Clothing and Furnishings Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 4) and received an average PPP loan of $130,048 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Regal Wear, Inc
KSD Hosiery LLC
Fabian Couture Group, LLC
Phita International Corp
Safire Silk Inc
North's Republic Inc
Unik International Inc
TGP Fulfillment Corporation
Industry PPP Comparison Statistics
Nationwide, 8,559 businesses in the "Men's and Boys' Clothing and Furnishings Merchant Wholesalers" industry received a total of $362.36M 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 4 employees, the same amount reported by Buda Bean, Inc and received an average PPP loan of $42,336, 69% higher than this company's loan of $25,100.
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