PPP Loan Data — Group USA Inc-Sba Small 7A Term, Secaucus, NJ
Group USA Inc-Sba Small 7A Term is a corporation located at 25 Enterprise Ave N in Secaucus, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,948,050.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Group USA Inc-Sba Small 7A Term in Secaucus, NJ received a Paycheck Protection Loan of $1.95M through TD Bank, National Association, 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, Group USA Inc-Sba Small 7A Term's 2019 payroll expenses are estimated to be at least $9.35M.
Based on their reported 355 jobs retained, this equals an estimated average yearly compensation of $26,340 per employee1
Reported PPP Proceed Usage:
On the PPP application, Group USA Inc-Sba Small 7A Term reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,948,050
Business Information - Group USA Inc-Sba Small 7A Term in Secaucus, NJ
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Group USA Inc-Sba Small 7A Term's reported 355 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $1.95M.
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Footnotes & Information
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