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PPP Loan Data — Cartainer Ocean Line Inc,
Linden, NJ
Cartainer Ocean Line Inc
Entity: Corporation
Industry: Freight Transportation Arrangement
Location: Linden, NJ
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Cartainer Ocean Line Inc is a corporation located at 975 E Linden Ave in Linden, New Jersey that received a Coronavirus-related PPP loan from the SBA of $130,762.00 in March, 2021.
The company has reported itself as a White female owned business, and employed at least eleven people during the applicable loan loan period.
$
PPP Loan Information
Loan #3659328604
Loan Size:
Jobs Retained:
11Loan Approved:
2021-03-17Loan Status:
Ongoing LoanLender:
Loan Source IncorporatedCartainer Ocean Line Inc in Linden, NJ received a Paycheck Protection Loan of $130,762 through Loan Source Incorporated, which was approved in March, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Cartainer Ocean Line Inc's 2019 payroll expenses are estimated to be at least $627,658.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $57,060 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cartainer Ocean Line Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $130,760
- Utilities: $1
Business Information - Cartainer Ocean Line Inc in Linden, NJ
975 E Linden Ave
Linden, NJ 7036
Business Industry:
Freight Transportation Arrangement
NAICS code 488510
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There are 2 other businesses that received a PPP loan registered to the same address as Cartainer Ocean Line Inc.
Manor Warehouse Corporation
Freight Transportation Arrangement
Penbroke Marine Services Inc
Freight Transportation Arrangement
Similar Companies near Linden
In the Linden area, 29 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 11) and received an average PPP loan of $62,256 (compared to this company's $130,762).
Similar Nearby Businesses Who Received PPP Funding:
Allied Chb Inc
Linden, NJ
Transportation Services International In
Linden, NJ
Marine Cargo Inc
Linden, NJ
Lviv Express Parcel Services
Linden, NJ
Penbroke Marine Services, Inc
Linden, NJ
Mrb&Mcb Freight Limited Liability Compan
Linden, NJ
Georjan & Leslie Transportation LLC
Linden, NJ
Yasa Exress LLC
Linden, NJ
NVS International Inc
Linden, NJ
Industry PPP Comparison Statistics
Nationwide, 25,521 businesses in the "Freight Transportation Arrangement" industry received a total of $1.88B 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 7 employees, 36% lower than Cartainer Ocean Line Inc's reported 11 employees, and received an average PPP loan of $73,480, 44% lower than this company's loan of $130,762.
Cartainer Ocean Line, Inc
Entity: Corporation
Industry: Freight Transportation Arrangement
Location: Linden, NJ
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•
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Cartainer Ocean Line, Inc is a corporation located at 975 East Linden Avenue in Linden, New Jersey that received a Coronavirus-related PPP loan from the SBA of $118,500.00 in May, 2020.
The company has reported itself as a White female owned business, and employed at least ten people during the applicable loan loan period.
$
PPP Loan Information
Loan #9064057303
Loan Size:
Jobs Retained:
10Loan Approved:
2020-05-01Loan Status:
Ongoing LoanLender:
Loan Source IncorporatedCartainer Ocean Line, Inc in Linden, NJ received a Paycheck Protection Loan of $118,500 through Loan Source Incorporated, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Cartainer Ocean Line, Inc's 2019 payroll expenses are estimated to be at least $568,800.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $56,880 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cartainer Ocean Line, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $118,500
Business Information - Cartainer Ocean Line, Inc in Linden, NJ
975 East Linden Avenue
Linden, NJ 7036
Business Industry:
Freight Transportation Arrangement
NAICS code 488510
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There are 2 other businesses that received a PPP loan registered to the same address as Cartainer Ocean Line, Inc.
Manor Warehouse Corporation
Freight Transportation Arrangement
Penbroke Marine Services, Inc
Freight Transportation Arrangement
Similar Companies near Linden
In the Linden area, 29 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 10) and received an average PPP loan of $62,256 (compared to this company's $118,500).
Similar Nearby Businesses Who Received PPP Funding:
Allied Chb Inc
Linden, NJ
Transportation Services International In
Linden, NJ
Marine Cargo Inc
Linden, NJ
Lviv Express Parcel Services
Linden, NJ
Penbroke Marine Services, Inc
Linden, NJ
Mrb&Mcb Freight Limited Liability Compan
Linden, NJ
Georjan & Leslie Transportation LLC
Linden, NJ
Yasa Exress LLC
Linden, NJ
NVS International Inc
Linden, NJ
Industry PPP Comparison Statistics
Nationwide, 25,521 businesses in the "Freight Transportation Arrangement" industry received a total of $1.88B 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 7 employees, 30% lower than Cartainer Ocean Line, Inc's reported 10 employees, and received an average PPP loan of $73,480, 38% lower than this company's loan of $118,500.
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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