PPP Loan Data — GMT Maintenance Inc, Newark, NJ
GMT Maintenance Inc
Location: Newark, NJTweet This • Search All PPP Data
GMT Maintenance Inc is a corporation located at 51 Stanton Street in Newark, New Jersey that received a Coronavirus-related PPP loan from the SBA of $15,700.00 in July, 2020.
$ PPP Loan Information
Lender:MBE CAPITAL PARTNERS
GMT Maintenance Inc received a Paycheck Protection Loan of $15,700 through MBE CAPITAL PARTNERS, which was approved in July, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, GMT Maintenance Inc's total 2019 payroll expenses were approximately $75,360 in order to qualify for the PPP loan amount received.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $25,120 per employee1.
Business Information - GMT Maintenance Inc in Newark, NJ
51 Stanton Street
Newark, NJ 7114
Automotive Body, Paint, and Interior Repair and Maintenance (NAICS code 811121)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NJ-10
Similar Companies near Newark
In the Newark area, 11 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 3) and received an average PPP loan of $522,058 (compared to this company's $15,700).
Similar Nearby Businesses Who Received PPP Funding:
Gibson Auto Works LLC
Hossain Brothers Inc
Richmond Auto Body Co Inc
One Stop Auto Body, LLC
Ecua Henivad Body Shop And Fender LLC
Lusamer Auto Body Corp.
Economy Auto Repair Inc
Industry PPP Comparison Statistics
Nationwide, 20,351 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a total of $1,499,752,193.00 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 6 employees, 100% higher than GMT Maintenance Inc's reported 3 employees, and received an average PPP loan of $73,694, 369% higher than this company's loan of $15,700.
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.
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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