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PPP Loan Data — Family First Funding, Toms River, NJ

SBA PPP loan data, payroll data, and salaries for Family First Funding
NJ

Family First Funding

Entity: Limited Liability Company (LLC)

Industry: Real Estate Credit

Location: Toms River, NJ

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Family First Funding is a limited liability company (LLC) located at 215 Main Street in Toms River, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,819,365.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.82M

Jobs Retained:

232

Loan Approved:

2020-04-06

Lender:

OCEANFIRST BANK, NATIONAL ASSOCIATION

Family First Funding in Toms River, NJ received a Paycheck Protection Loan of $2.82M through OCEANFIRST BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Family First Funding's total 2019 payroll expenses were approximately $13.53M in order to qualify for the PPP loan amount received.

Based on their reported 232 jobs retained, this equals an estimated average yearly compensation of $58,332 per employee1.

Because the loan received by Family First Funding is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Family First Funding in Toms River, NJ

Family First Funding
215 Main Street
Toms River, NJ 8753

Business Industry

Real Estate Credit (NAICS code 522292)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-03

Similar Companies near Toms River

In the Toms River area, 2 businesses in the "Real Estate Credit" industry received a PPP loan. These local businesses reported an average of 136 employees (compared to this company's 232) and received an average PPP loan of $1,656,283 (compared to this company's $2.82M).

Similar Nearby Businesses Who Received PPP Funding:

Oceanside Mortgage Company
Toms River, NJ

$493,200 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 1,706 businesses in the "Real Estate Credit" industry received a total of $570,275,600.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 21 employees, 91% lower than Family First Funding's reported 232 employees, and received an average PPP loan of $334,276, 88% lower than this company's loan of $2.82M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/family-first-funding-toms-river-nj