PPP Loan Data — Buda Bean Inc, Fairview, NJ
Buda Bean Inc
Location: Fairview, NJTweet This • Search All PPP Data
Buda Bean Inc is a corporation located at 25b Industrial Ave in Fairview, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in January, 2021.
The company has reported itself as an Asian male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Shinhan Bank America
Buda Bean Inc in Fairview, NJ received a Paycheck Protection Loan of $25,100 through Shinhan Bank America, which was approved in January, 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: $25,098
- Utilities: $1
Business Information - Buda Bean Inc in Fairview, NJ
25b Industrial Ave
Fairview, NJ 7022
Men's and Boys' Clothing and Furnishings Merchant Wholesalers
NAICS code 424320
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fairview
In the Fairview area, 3 businesses in the "Men's and Boys' Clothing and Furnishings Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $45,078 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Jade Eastern Trading
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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