PPP Loan Data — Gateway Security Inc, Newark, NJ
Gateway Security Inc is a subchapter s corporation located at 604 Market Street in Newark, New Jersey that received a Coronavirus-related PPP loan from the SBA of $4,483,845.00 in April, 2020.
$ PPP Loan Information
Lender:MANUFACTURERS AND TRADERS TRUST COMPANY
Gateway Security Inc received a Paycheck Protection Loan of $4.48M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Gateway Security Inc's total 2019 payroll expenses were approximately $21.52M in order to qualify for the PPP loan amount received.
Based on their reported 487 jobs retained, this equals an estimated average yearly compensation of $44,194 per employee1.
Business Information - Gateway Security Inc in Newark, NJ
604 Market Street
Newark, NJ 7105
Security Guards and Patrol Services (NAICS code 561612)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NJ-08
Similar Companies near Newark
In the Newark area, 4 businesses in the "Security Guards and Patrol Services" industry received a PPP loan. These local businesses reported an average of 165 employees (compared to this company's 487) and received an average PPP loan of $1,289,336 (compared to this company's $4.48M).
Similar Nearby Businesses Who Received PPP Funding:
Columbia Security Parking Corp-Sba Small 7A Term
Pro Cops Security
Serene Security LLC
Industry PPP Comparison Statistics
Nationwide, 4,165 businesses in the "Security Guards and Patrol Services" industry received a total of $1,003,129,142.00 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 36 employees, 93% lower than Gateway Security Inc's reported 487 employees, and received an average PPP loan of $240,847, 95% lower than this company's loan of $4.48M.
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.
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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