PPP Loan Data — Doctor Drywall Inc, Paterson, NJ
Doctor Drywall Inc is a corporation located at 149 Haledon Ave in Paterson, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,068.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Doctor Drywall Inc in Paterson, NJ received a Paycheck Protection Loan of $25,068 through Kabbage, Inc., which was approved in July, 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
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, Doctor Drywall Inc's 2019 payroll expenses are estimated to be at least $120,326.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,109 per employee1
Reported PPP Proceed Usage:
On the PPP application, Doctor Drywall Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,068
Business Information - Doctor Drywall Inc in Paterson, NJ
149 Haledon Ave
Paterson, NJ 7524
Drywall and Insulation Contractors
NAICS code 238310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 18,888 businesses in the "Drywall and Insulation Contractors" industry received a total of $2.43B 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 11 employees, 267% higher than Doctor Drywall Inc's reported 3 employees, and received an average PPP loan of $128,649, 413% higher than this company's loan of $25,068.
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Footnotes & Information
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