PPP Loan Data — Family Connections, Inc, East Orange, NJ
Family Connections, Inc
Entity: Non-profit Organization
Location: East Orange, NJTweet This • Search All PPP Data
Family Connections, Inc is a non-profit organization located at 7 Glenwood Ave. - Suite 101 in East Orange, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,124,955.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Valley National Bank
Family Connections, Inc in East Orange, NJ received a Paycheck Protection Loan of $2.12M through Valley National Bank, which was approved in April, 2020.
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, Family Connections, Inc's 2019 payroll expenses are estimated to be at least $10.2M.
Based on their reported 176 jobs retained, this equals an estimated average yearly compensation of $57,953 per employee1
Reported PPP Proceed Usage:
On the PPP application, Family Connections, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,124,955
Business Information - Family Connections, Inc in East Orange, NJ
7 Glenwood Ave. - Suite 101
East Orange, NJ 7017
Outpatient Mental Health and Substance Abuse Centers
NAICS code 621420
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near East Orange
In the East Orange area, 3 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a PPP loan. These local businesses reported an average of 75 employees (compared to this company's 176) and received an average PPP loan of $842,334 (compared to this company's $2.12M).
Similar Nearby Businesses Who Received PPP Funding:
Airmid Counseling Services LLC
East Orange, NJ
Community Psychiatric Institute
East Orange, NJ
Industry PPP Comparison Statistics
Nationwide, 11,274 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a total of $1.83B 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 18 employees, 90% lower than Family Connections, Inc's reported 176 employees, and received an average PPP loan of $162,367, 92% lower than this company's loan of $2.12M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!