PPP Loan Data — Cranbury First Aid Squad, Cranbury, NJ
Cranbury First Aid Squad
Entity: Non-profit Organization
Location: Cranbury, NJTweet This • Search All PPP Data
Cranbury First Aid Squad is a non-profit organization located at 68 Maplewood Ave in Cranbury, New Jersey that received a Coronavirus-related PPP loan from the SBA of $46,750.00 in June, 2020.
The company has reported itself as a male owned non-profit, and employed at least fourteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Valley National Bank
Cranbury First Aid Squad in Cranbury, NJ received a Paycheck Protection Loan of $46,750 through Valley National Bank, which was approved in June, 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 May, 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, Cranbury First Aid Squad's 2019 payroll expenses are estimated to be at least $224,400.
Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $16,029 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cranbury First Aid Squad reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,750
Business Information - Cranbury First Aid Squad in Cranbury, NJ
68 Maplewood Ave
Cranbury, NJ 8512
Freestanding Ambulatory Surgical and Emergency Centers
NAICS code 621493
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,399 businesses in the "Freestanding Ambulatory Surgical and Emergency Centers" industry received a total of $741.42M 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 20 employees, 43% higher than Cranbury First Aid Squad's reported 14 employees, and received an average PPP loan of $218,130, 367% higher than this company's loan of $46,750.
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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