PPP Loan Data — GCE East International Inc, Linden, NJ
GCE East International Inc is a corporation located at 301 Commerce Rd in Linden, New Jersey that received a Coronavirus-related PPP loan from the SBA of $46,667.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
GCE East International Inc in Linden, NJ received a Paycheck Protection Loan of $46,667 through Wells Fargo Bank, National Association, which was approved in May, 2020.
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, GCE East International Inc's 2019 payroll expenses are estimated to be at least $224,002.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,334 per employee1
Reported PPP Proceed Usage:
On the PPP application, GCE East International Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,667
Business Information - GCE East International Inc in Linden, NJ
301 Commerce Rd
Linden, NJ 7036
Freight Transportation Arrangement
NAICS code 488510
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Linden
In the Linden area, 29 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 6) and received an average PPP loan of $62,256 (compared to this company's $46,667).
Similar Nearby Businesses Who Received PPP Funding:
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Cardozo Trucking Inc
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Lviv Express Parcel Services
Allied Chb Inc
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Mrb&Mcb Freight Limited Liability Compan
Target International Shipping Inc
Industry PPP Comparison Statistics
Nationwide, 26,171 businesses in the "Freight Transportation Arrangement" industry received a total of $1.88B 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 7 employees, 17% higher than GCE East International Inc's reported 6 employees, and received an average PPP loan of $72,001, 54% higher than this company's loan of $46,667.
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Footnotes & Information
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