PPP Loan Data — George Church, Inc, Fanwood, NJ
George Church, Inc
Entity: Subchapter S Corporation
Location: Fanwood, NJTweet This • Search All PPP Data
George Church, Inc is a subchapter s corporation located at 183 South Ave in Fanwood, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,042.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
George Church, Inc in Fanwood, NJ received a Paycheck Protection Loan of $25,042 through Cross River Bank, 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, George Church, Inc's 2019 payroll expenses are estimated to be at least $120,202.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,067 per employee1
Reported PPP Proceed Usage:
On the PPP application, George Church, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,042
Business Information - George Church, Inc in Fanwood, NJ
183 South Ave
Fanwood, NJ 7023
Automobile and Other Motor Vehicle Merchant Wholesalers
NAICS code 423110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fanwood
In the Fanwood area, 2 businesses in the "Automobile and Other Motor Vehicle Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $15,646 (compared to this company's $25,042).
Similar Nearby Businesses Who Received PPP Funding:
SK Motors Inc
Fort Lee, NJ
Industry PPP Comparison Statistics
Nationwide, 10,057 businesses in the "Automobile and Other Motor Vehicle Merchant Wholesalers" industry received a total of $989.93M 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, 200% higher than George Church, Inc's reported 3 employees, and received an average PPP loan of $98,432, 293% higher than this company's loan of $25,042.
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Footnotes & Information
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