PPP Loan Data — GTG Warehouse, Linden, NJ
GTG Warehouse is a corporation located at 340 S Stiles St in Linden, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,841,300.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
GTG Warehouse in Linden, NJ received a Paycheck Protection Loan of $1.84M through Legacy Bank, which was approved in January, 2021.
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, GTG Warehouse's 2019 payroll expenses are estimated to be at least $8.84M.
Based on their reported 114 jobs retained, this equals an estimated average yearly compensation of $77,528 per employee1
Reported PPP Proceed Usage:
On the PPP application, GTG Warehouse reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,841,295
- Utilities: $1
Business Information - GTG Warehouse in Linden, NJ
340 S Stiles St
Linden, NJ 7036
General Warehousing and Storage
NAICS code 493110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Linden
In the Linden area, 14 businesses in the "General Warehousing and Storage" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 114) and received an average PPP loan of $368,056 (compared to this company's $1.84M).
Similar Nearby Businesses Who Received PPP Funding:
Edison Distribution Co Inc
Linden Labor Leasing LLC
Green Lion Auto Corp
Eastern Warehouses Inc
Rocket II Distribution Inc
Linden Warehouse & Distribution Co Inc
Lincoln Park, NJ
Industry PPP Comparison Statistics
Nationwide, 4,995 businesses in the "General Warehousing and Storage" industry received a total of $771.67M 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 17 employees, 85% lower than GTG Warehouse's reported 114 employees, and received an average PPP loan of $154,488, 92% lower than this company's loan of $1.84M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!