PPP Loan Data — Cafl Hospitality Inc, Dover, NJ
Cafl Hospitality Inc is a corporation located at 42 North Sussex St in Dover, New Jersey that received a Coronavirus-related PPP loan from the SBA of $47,167.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least fifteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Valley National Bank
Cafl Hospitality Inc in Dover, NJ received a Paycheck Protection Loan of $47,167 through Valley National Bank, 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 March, 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, Cafl Hospitality Inc's 2019 payroll expenses are estimated to be at least $226,402.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $15,093 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cafl Hospitality Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,167
Business Information - Cafl Hospitality Inc in Dover, NJ
42 North Sussex St
Dover, NJ 7801
Drinking Places (Alcoholic Beverages)
NAICS code 722410
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Dover
In the Dover area, 3 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 15) and received an average PPP loan of $94,035 (compared to this company's $47,167).
Similar Nearby Businesses Who Received PPP Funding:
The Quiet Man Inc
Lake Hopatcong Classics LLC
Industry PPP Comparison Statistics
Nationwide, 46,930 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a total of $2.81B 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, 20% lower than Cafl Hospitality Inc's reported 15 employees, and received an average PPP loan of $59,863, 27% higher than this company's loan of $47,167.
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.
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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