PPP Loan Data — Esposito Construction LLC, Matawan, NJ
Esposito Construction LLC
Location: Matawan, NJTweet This • Search All PPP Data
Esposito Construction LLC is a partnership located at 253 Main St Ste 385 in Matawan, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,794,789.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 167 people during the applicable loan loan period.
$ PPP Loan Information
Lender:VALLEY NATIONAL BANK
Esposito Construction LLC in Matawan, NJ received a Paycheck Protection Loan of $2.79M through VALLEY NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Esposito Construction LLC's total 2019 payroll expenses were approximately $13.41M in order to qualify for the PPP loan amount received.
Based on their reported 167 jobs retained, this equals an estimated average yearly compensation of $80,329 per employee1.
Business Information - Esposito Construction LLC in Matawan, NJ
253 Main St Ste 385
Matawan, NJ 07747
New Single-Family Housing Construction (except For-Sale Builders) (NAICS code 236115)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: NJ-06
Similar Companies near Matawan
In the Matawan area, 11 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 167) and received an average PPP loan of $305,619 (compared to this company's $2.79M).
Similar Nearby Businesses Who Received PPP Funding:
Swift Construction LLC
AJ Home Building LLC
The Route 34 Corp
Scott Rathburn Homes LLC
Design For Living Contracting LLC
Anthony Louis Custom Home Builders LLC
Marlboro Township, NJ
135 Seabreeze Corporation
Industry PPP Comparison Statistics
Nationwide, 64,726 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $3,790,773,096.00 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, 97% lower than Esposito Construction LLC's reported 167 employees, and received an average PPP loan of $58,566, 98% lower than this company's loan of $2.79M.
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.
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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