PPP Loan Data — Groome Industrial Service Group, LLC, Fairfield, NJ
Groome Industrial Service Group, LLC
Entity: Limited Liability Company (LLC)
Location: Fairfield, NJTweet This • Search All PPP Data
Groome Industrial Service Group, LLC is a limited liability company (LLC) located at 22 Audrey Pl in Fairfield, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,525,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wilmington Savings Fund Society, FSB
Groome Industrial Service Group, LLC in Fairfield, NJ received a Paycheck Protection Loan of $1.53M through Wilmington Savings Fund Society, FSB, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 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, Groome Industrial Service Group, LLC's 2019 payroll expenses are estimated to be at least $7.32M.
Based on their reported 91 jobs retained, this equals an estimated average yearly compensation of $80,445 per employee1
Reported PPP Proceed Usage:
On the PPP application, Groome Industrial Service Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,525,100
Business Information - Groome Industrial Service Group, LLC in Fairfield, NJ
22 Audrey Pl
Fairfield, NJ 7004
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fairfield
In the Fairfield area, 57 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 91) and received an average PPP loan of $145,286 (compared to this company's $1.53M).
Similar Nearby Businesses Who Received PPP Funding:
NJ Default Group LLC
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SCI Phi Recordings LLC
Atlantis Partners LLC
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Consumer Product Testing Company Inc
Industry PPP Comparison Statistics
Nationwide, 129,763 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.41B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 95% lower than Groome Industrial Service Group, LLC's reported 91 employees, and received an average PPP loan of $57,091, 96% lower than this company's loan of $1.53M.
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Footnotes & Information
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