PPP Loan Data — Hobson Films, Old Bridge Township, NJ
Hobson Films is a subchapter s corporation located at 68 Van Tines Lane in Old Bridge Township, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in August, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Hobson Films in Old Bridge Township, NJ received a Paycheck Protection Loan of $25,000 through Cross River Bank, which was approved in August, 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, Hobson Films' 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hobson Films reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Hobson Films in Old Bridge Township, NJ
68 Van Tines Lane
Old Bridge Township, NJ 8857
Other Performing Arts Companies
NAICS code 711190
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 24,161 businesses in the "Other Performing Arts Companies" industry received a total of $712.21M 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 4 employees, 100% higher than Hobson Films' reported 2 employees, and received an average PPP loan of $29,478, 18% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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