PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — GCS Fresh One LLC, Berkeley Heights, NJ

ALERT: There are 2 PPP loans for a total of $49,236 in our database for businesses with the name "GCS Fresh One LLC" in Berkeley Heights, NJ. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for GCS Fresh One LLC

FRANCHISE

NJ

GCS Fresh One LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Franchise: Freshii

Location: Berkeley Heights, NJ

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GCS Fresh One LLC is a limited liability company (LLC) located at 120 Park Ave 120 Park Ave in Berkeley Heights, New Jersey that received a Coronavirus-related PPP loan from the SBA of $23,936.00 in February, 2021. This business is a Freshii franchise.

$ PPP Loan Information
Loan #8099498406

Loan Size:

$23,936

Jobs Retained:

7

Loan Approved:

2021-02-12

Loan Status:

Ongoing Loan

Lender:

PNC Bank, National Association

GCS Fresh One LLC in Berkeley Heights, NJ received a Paycheck Protection Loan of $23,936 through PNC Bank, National Association, which was approved in February, 2021.

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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, GCS Fresh One LLC's 2019 payroll expenses are estimated to be at least $114,893.

Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $16,413 per employee1

Reported PPP Proceed Usage:

On the PPP application, GCS Fresh One LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $23,934
  • Utilities: $1

Business Information - GCS Fresh One LLC in Berkeley Heights, NJ

GCS Fresh One LLC
120 Park Ave 120 Park Ave
Berkeley Heights, NJ 7922

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Union County, NJ — SBA Office 0299 — Congressional District: NJ-07

Similar Companies near Berkeley Heights

In the Berkeley Heights area, 24 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 7) and received an average PPP loan of $83,723 (compared to this company's $23,936).

Industry PPP Comparison Statistics

Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.

PPP recipients in this industry report an average of 22 employees, 214% higher than GCS Fresh One LLC's reported 7 employees, and received an average PPP loan of $129,504, 441% higher than this company's loan of $23,936.

SBA PPP loan data, payroll data, and salaries for GCS Fresh One LLC
NJ

GCS Fresh One LLC

Entity: Limited Liability Company (LLC)

Industry:

Location: Berkeley Heights, NJ

Search All PPP Data

GCS Fresh One LLC is a limited liability company (LLC) located at 120 Park Ave in Berkeley Heights, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in May, 2020.

The company has reported itself as a White female owned business, and employed at least seven people during the applicable loan loan period.

$ PPP Loan Information
Loan #6879557700

Loan Size:

$25,300

Jobs Retained:

7

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

PNC Bank, National Association

GCS Fresh One LLC in Berkeley Heights, NJ received a Paycheck Protection Loan of $25,300 through PNC Bank, National Association, which was approved in May, 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, GCS Fresh One LLC's 2019 payroll expenses are estimated to be at least $121,440.

Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,349 per employee1

Reported PPP Proceed Usage:

On the PPP application, GCS Fresh One LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,300

Business Information - GCS Fresh One LLC in Berkeley Heights, NJ

GCS Fresh One LLC
120 Park Ave
Berkeley Heights, NJ 7922

Business Industry:

NAICS code

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Union County, NJ — SBA Office 0299 — Congressional District: NJ-07

Industry PPP Comparison Statistics

Nationwide, 0 businesses in the "" industry received a total of $0 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 0 employees, 100% lower than GCS Fresh One LLC's reported 7 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,300.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/gcs-fresh-one-llc-berkeley-heights-nj