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PPP Loan Data — Emco Construction Group Inc,
Iselin, NJ
Emco Construction Group Inc
Entity: Corporation
Industry: Commercial and Institutional Building Construction
Location: Iselin, NJ
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Emco Construction Group Inc is a corporation located at 205 Bloomfield Ave in Iselin, New Jersey that received a Coronavirus-related PPP loan from the SBA of $41,490.00 in January, 2021.
$
PPP Loan Information
Loan #9674478304
Loan Size:
Jobs Retained:
2Loan Approved:
2021-01-31Loan Status:
Ongoing LoanLender:
New York Community BankEmco Construction Group Inc in Iselin, NJ received a Paycheck Protection Loan of $41,490 through New York Community Bank, which was approved in January, 2021.
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 MoreUnderstanding 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 MoreBased 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, Emco Construction Group Inc's 2019 payroll expenses are estimated to be at least $199,152.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $99,576 per employee1
Reported PPP Proceed Usage:
On the PPP application, Emco Construction Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $41,490
Business Information - Emco Construction Group Inc in Iselin, NJ
205 Bloomfield Ave
Iselin, NJ 8830
Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220
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: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Iselin
In the Iselin area, 11 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 2) and received an average PPP loan of $470,482 (compared to this company's $41,490).
Similar Nearby Businesses Who Received PPP Funding:
Scott Marcellus
Iselin, NJ
H & P Construction Company Inc
Monroe Township, NJ
Alpha Contracting Co Inc
Monroe Township, NJ
Art Of Construction LLC
Monroe, NJ
Gerardo Angulo
Monroe Township, NJ
A & J Contractors Group Inc
Monroe Township, NJ
W. Campbell Holdings LLC
Monroe Township, NJ
MMT. Construction Management, LLC
Monroe Township, NJ
Industry PPP Comparison Statistics
Nationwide, 77,367 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B 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 12 employees, 500% higher than Emco Construction Group Inc's reported 2 employees, and received an average PPP loan of $159,913, 285% higher than this company's loan of $41,490.
Emco Construction Group, Inc
Entity: Corporation
Industry: Commercial and Institutional Building Construction
Location: Iselin, NJ
Tweet This
•
Search All PPP Data
Emco Construction Group, Inc is a corporation located at 205 Bloomfield Avenue in Iselin, New Jersey that received a Coronavirus-related PPP loan from the SBA of $21,200.00 in April, 2020.
$
PPP Loan Information
Loan #3596837207
Loan Size:
Jobs Retained:
4Loan Approved:
2020-04-27Loan Status:
Paid in Full or ForgivenLender:
New York Community BankEmco Construction Group, Inc in Iselin, NJ received a Paycheck Protection Loan of $21,200 through New York Community 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 May, 2021.
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 MoreUnderstanding 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 MoreBased 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, Emco Construction Group, Inc's 2019 payroll expenses are estimated to be at least $101,760.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $25,440 per employee1
Reported PPP Proceed Usage:
On the PPP application, Emco Construction Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $21,200
Business Information - Emco Construction Group, Inc in Iselin, NJ
205 Bloomfield Avenue
Iselin, NJ 8830
Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220
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: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Iselin
In the Iselin area, 11 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 4) and received an average PPP loan of $470,482 (compared to this company's $21,200).
Similar Nearby Businesses Who Received PPP Funding:
Scott Marcellus
Iselin, NJ
H & P Construction Company Inc
Monroe Township, NJ
Alpha Contracting Co Inc
Monroe Township, NJ
Art Of Construction LLC
Monroe, NJ
Gerardo Angulo
Monroe Township, NJ
A & J Contractors Group Inc
Monroe Township, NJ
W. Campbell Holdings LLC
Monroe Township, NJ
MMT. Construction Management, LLC
Monroe Township, NJ
Industry PPP Comparison Statistics
Nationwide, 77,367 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B 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 12 employees, 200% higher than Emco Construction Group, Inc's reported 4 employees, and received an average PPP loan of $159,913, 654% higher than this company's loan of $21,200.
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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