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PPP Loan Data — GGI Glass Distributors Corp,
Secaucus, NJ
GGI Glass Distributors Corp
Entity: Subchapter S Corporation
Industry: Flat Glass Manufacturing
Location: Secaucus, NJ
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GGI Glass Distributors Corp is a subchapter s corporation located at 101 Venture Way in Secaucus, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,022,400.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
210Loan Approved:
2020-04-14Lender:
PNC BANK, NATIONAL ASSOCIATIONGGI Glass Distributors Corp received a Paycheck Protection Loan of $3.02M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, GGI Glass Distributors Corp's total 2019 payroll expenses were approximately $14.51M in order to qualify for the PPP loan amount received.
Based on their reported 210 jobs retained, this equals an estimated average yearly compensation of $69,083 per employee1.
Business Information - GGI Glass Distributors Corp in Secaucus, NJ
101 Venture Way
Secaucus, NJ 7094
Business Industry
Flat Glass Manufacturing (NAICS code 327211)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NJ-09Industry PPP Comparison Statistics
Nationwide, 250 businesses in the "Flat Glass Manufacturing" industry received a total of $67,699,706.00 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 22 employees, 90% lower than GGI Glass Distributors Corp's reported 210 employees, and received an average PPP loan of $270,799, 91% lower than this company's loan of $3.02M.
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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