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PPP Loan Data — Foulke Management Corp, Cherry Hill, NJ

SBA PPP loan data, payroll data, and salaries for Foulke Management Corp
NJ

Foulke Management Corp

Entity: Corporation

Industry: New Car Dealers

Location: Cherry Hill, NJ

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Foulke Management Corp is a corporation located at 1805 Rt 70 in Cherry Hill, New Jersey that received a Coronavirus-related PPP loan from the SBA of $4,071,295.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.07M

Jobs Retained:

338

Loan Approved:

2020-04-09

Lender:

REPUBLIC FIRST BANK D/B/A REPUBLIC BANK

Foulke Management Corp in Cherry Hill, NJ received a Paycheck Protection Loan of $4.07M through REPUBLIC FIRST BANK D/B/A REPUBLIC BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Foulke Management Corp's total 2019 payroll expenses were approximately $19.54M in order to qualify for the PPP loan amount received.

Based on their reported 338 jobs retained, this equals an estimated average yearly compensation of $57,817 per employee1.

Because the loan received by Foulke Management Corp 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 - Foulke Management Corp in Cherry Hill, NJ

Foulke Management Corp
1805 Rt 70
Cherry Hill, NJ 8003

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-01

Similar Companies near Cherry Hill

In the Cherry Hill area, 8 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 105 employees (compared to this company's 338) and received an average PPP loan of $1,496,251 (compared to this company's $4.07M).

Industry PPP Comparison Statistics

Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 47 employees, 86% lower than Foulke Management Corp's reported 338 employees, and received an average PPP loan of $656,005, 84% lower than this company's loan of $4.07M.

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/foulke-management-corp-cherry-hill-nj