PPP Loan Data — Financial Freedom Mortgage, LLC, Mount Laurel, NJ
Financial Freedom Mortgage, LLC is a limited liability company (LLC) located at 112 West Park Drive in Mount Laurel, New Jersey that received a Coronavirus-related PPP loan from the SBA of $418,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 35 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FLAGSTAR BANK, FSB
Financial Freedom Mortgage, LLC received a Paycheck Protection Loan of $418,300 through FLAGSTAR BANK, FSB, which was approved in April, 2020.
Based on standard PPP eligibility rules, Financial Freedom Mortgage, LLC's total 2019 payroll expenses were approximately $2.01M in order to qualify for the PPP loan amount received.
Based on their reported 35 jobs retained, this equals an estimated average yearly compensation of $57,367 per employee1.
Business Information - Financial Freedom Mortgage, LLC in Mount Laurel, NJ
112 West Park Drive
Mount Laurel, NJ 8054
Real Estate Credit (NAICS code 522292)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: NJ-03
Similar Companies near Mount Laurel
In the Mount Laurel area, 5 businesses in the "Real Estate Credit" industry received a PPP loan. These local businesses reported an average of 109 employees (compared to this company's 35) and received an average PPP loan of $2,201,189 (compared to this company's $418,300).
Similar Nearby Businesses Who Received PPP Funding:
Nation One Mortgage Corporation
American Neighborhood Mortgage Acceptance Company LLC
Mount Laurel, NJ
Aspire Home Mortgage Inc
Financial Freedom Call Center LLC
Mount Laurel, NJ
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, 40% lower than Financial Freedom Mortgage, LLC's reported 35 employees, and received an average PPP loan of $334,276, 20% lower than this company's loan of $418,300.
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. 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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