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PPP Loan Data — Daybreak Express, Inc., Newark, NJ

SBA PPP loan data, payroll data, and salaries for Daybreak Express, Inc.
NJ

Daybreak Express, Inc.

Entity: Subchapter S Corporation

Industry: General Freight Trucking, Local

Location: Newark, NJ

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Daybreak Express, Inc. is a subchapter s corporation located at 500 Avenue P in Newark, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,954,545.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.95M

Jobs Retained:

250

Loan Approved:

2020-04-14

Lender:

MANUFACTURERS AND TRADERS TRUST COMPANY

Daybreak Express, Inc. in Newark, NJ received a Paycheck Protection Loan of $3.95M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Daybreak Express, Inc.'s total 2019 payroll expenses were approximately $18.98M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $75,927 per employee1.

Because the loan received by Daybreak Express, 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 - Daybreak Express, Inc. in Newark, NJ

Daybreak Express, Inc.
500 Avenue P
Newark, NJ 07105

Business Industry

General Freight Trucking, Local (NAICS code 484110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-08

Similar Companies near Newark

In the Newark area, 66 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 250) and received an average PPP loan of $127,408 (compared to this company's $3.95M).

Industry PPP Comparison Statistics

Nationwide, 63,007 businesses in the "General Freight Trucking, Local" industry received a total of $3,835,780,964.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 5 employees, 98% lower than Daybreak Express, Inc.'s reported 250 employees, and received an average PPP loan of $60,879, 98% lower than this company's loan of $3.95M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/daybreak-express-inc-newark-nj