PPP Loan Data — Forsa Construction, LLC, Little Ferry, NJ
Forsa Construction, LLC
Entity: Limited Liability Company (LLC)
Location: Little Ferry, NJTweet This • Search All PPP Data
Forsa Construction, LLC is a limited liability company (LLC) located at 75 Bergen Tpk. in Little Ferry, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,623,487.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 46 people during the applicable loan loan period.
$ PPP Loan Information
Lender:VALLEY NATIONAL BANK
Forsa Construction, LLC in Little Ferry, NJ received a Paycheck Protection Loan of $2.62M through VALLEY NATIONAL BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 46 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 126.
Based on standard PPP eligibility rules, Forsa Construction, LLC's total 2019 payroll expenses were approximately $12.59M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 46 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Forsa Construction, LLC in Little Ferry, NJ
75 Bergen Tpk.
Little Ferry, NJ 7643
Commercial and Institutional Building Construction (NAICS code 236220)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: FEMALE OWNED
Veteran Status: UnreportedCongressional District: NJ-09
Similar Companies near Little Ferry
In the Little Ferry area, 9 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 46) and received an average PPP loan of $468,879 (compared to this company's $2.62M).
Similar Nearby Businesses Who Received PPP Funding:
Century 21 Construction Corporation
Arnold E Demasi Associates
Little Ferry, NJ
Sharp Management, LLC
ECC Group, Inc.
Matilsky Construction, LLC
Molba Carpentry Inc.
Little Ferry, NJ
Keltic Construction & Woodwork Inc.
Little Ferry, NJ
Industry PPP Comparison Statistics
Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 13 employees, 72% lower than Forsa Construction, LLC's reported 46 employees, and received an average PPP loan of $203,235, 92% lower than this company's loan of $2.62M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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