PPP Loan Data — Foundation Title, LLC, Woodbury, NJ
Foundation Title, LLC is a limited liability company (LLC) located at 57 Euclid St in Woodbury, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,586,627.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Foundation Title, LLC in Woodbury, NJ received a Paycheck Protection Loan of $2.59M through TD Bank, National Association, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Foundation Title, LLC's 2019 payroll expenses are estimated to be at least $12.42M.
Based on their reported 180 jobs retained, this equals an estimated average yearly compensation of $68,977 per employee1
Reported PPP Proceed Usage:
On the PPP application, Foundation Title, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,586,627
Business Information - Foundation Title, LLC in Woodbury, NJ
57 Euclid St
Woodbury, NJ 8096
Title Abstract and Settlement Offices
NAICS code 541191
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,533 businesses in the "Title Abstract and Settlement Offices" industry received a total of $500.83M 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 8 employees, 96% lower than Foundation Title, LLC's reported 180 employees, and received an average PPP loan of $90,517, 97% lower than this company's loan of $2.59M.
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Footnotes & Information
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