PPP Loan Data — Elkton Chicken LLC, Edison, NJ
Elkton Chicken LLC is a limited liability company (LLC) located at 100 Menlo Park Mall Ste 500 in Edison, New Jersey that received a Coronavirus-related PPP loan from the SBA of $46,357.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least nineteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Cross River Bank
Elkton Chicken LLC in Edison, NJ received a Paycheck Protection Loan of $46,357 through Cross River 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 April, 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, Elkton Chicken LLC's 2019 payroll expenses are estimated to be at least $222,514.
Based on their reported 19 jobs retained, this equals an estimated average yearly compensation of $11,711 per employee1
Reported PPP Proceed Usage:
On the PPP application, Elkton Chicken LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,357
Business Information - Elkton Chicken LLC in Edison, NJ
100 Menlo Park Mall Ste 500
Edison, NJ 8837
NAICS code 722513
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Edison
In the Edison area, 174 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 19) and received an average PPP loan of $103,622 (compared to this company's $46,357).
Similar Nearby Businesses Who Received PPP Funding:
Broadway Chicken LLC
Washington Park Chicken LLC
Whitehall Chicken LLC
Leominster Chicken LLC
Tonnelle Chicken LLC
Stewarts Menlo LLC
Neptune Chicken, LLC
Salisbury Chicken, LLC
Burbank Chicken LLC
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 11% higher than Elkton Chicken LLC's reported 19 employees, and received an average PPP loan of $100,980, 118% higher than this company's loan of $46,357.
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Footnotes & Information
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