PPP Loan Data — Frank Masonry LLC, Milmay, NJ
Frank Masonry LLC is a limited liability company (LLC) located at 219 Deerwood Ave in Milmay, New Jersey that received a Coronavirus-related PPP loan from the SBA of $46,100.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Frank Masonry LLC in Milmay, NJ received a Paycheck Protection Loan of $46,100 through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
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, Frank Masonry LLC's 2019 payroll expenses are estimated to be at least $221,280.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,256 per employee1
Reported PPP Proceed Usage:
On the PPP application, Frank Masonry LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,100
Business Information - Frank Masonry LLC in Milmay, NJ
219 Deerwood Ave
Milmay, NJ 8340
NAICS code 238140
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 16,648 businesses in the "Masonry Contractors" industry received a total of $1.65B 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 9 employees, 80% higher than Frank Masonry LLC's reported 5 employees, and received an average PPP loan of $99,369, 116% higher than this company's loan of $46,100.
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Footnotes & Information
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