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PPP Loan Data — Doctor Drywall Inc, Paterson, NJ

SBA PPP loan data, payroll data, and salaries for Doctor Drywall Inc
NJ

Doctor Drywall Inc

Entity: Corporation

Industry: Drywall and Insulation Contractors

Location: Paterson, NJ

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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 #9681118103

Loan Size:

$25,068

Jobs Retained:

3

Loan Approved:

2020-07-29

Loan Status:

Ongoing Loan

Lender:

Kabbage, Inc.

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

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 More
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.

Read More

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

Doctor Drywall Inc
149 Haledon Ave
Paterson, NJ 7524

Business Industry:
Drywall and Insulation Contractors
NAICS code 238310

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Passaic County, NJ — SBA Office 0299 — Congressional District: NJ-09

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.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/doctor-drywall-inc-paterson-nj