Contemporary Graphics And Bindery, Inc in Camden, NJ - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Contemporary Graphics And Bindery, Inc, Camden, NJ

Contemporary Graphics And Bindery, Inc

Entity: Subchapter S Corporation

Industry: Folding Paperboard Box Manufacturing

Location: Camden, NJ

Contemporary Graphics And Bindery, Inc is a subchapter s corporation located at 1200 Ferry Avenue in Camden, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,083,562.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 254 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6639357003

Loan Size:

$3.08M

Jobs Retained:

254

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

Customers Bank

Contemporary Graphics And Bindery, Inc in Camden, NJ received a Paycheck Protection Loan of $3.08M through Customers 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 July, 2021.

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.

Understanding 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.

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, Contemporary Graphics And Bindery, Inc's 2019 payroll expenses are estimated to be at least $14.8M.

Based on their reported 254 jobs retained, this equals an estimated average yearly compensation of $58,272 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Contemporary Graphics And Bindery, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $3,083,562

Because the loan received by Contemporary Graphics And Bindery, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Contemporary Graphics And Bindery, Inc in Camden, NJ

Contemporary Graphics And Bindery, Inc
1200 Ferry Avenue
Camden, NJ 8104

Business Industry:
Folding Paperboard Box Manufacturing
NAICS code 322212

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Camden County, NJ — SBA Office 0299 — Congressional District: NJ-01

Industry PPP Comparison Statistics

Nationwide, 241 businesses in the "Folding Paperboard Box Manufacturing" industry received a total of $145.84M 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 52 employees, 80% lower than Contemporary Graphics And Bindery, Inc's reported 254 employees, and received an average PPP loan of $605,166, 80% lower than this company's loan of $3.08M.

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.

Search FederalPay's Full PPP Loan Database

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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