PPP Loan Data — Horizon Engineering Consulting LLC, Linwood, NJ
Horizon Engineering Consulting LLC is a limited liability company (LLC) located at 3 Candlewood Ct in Linwood, New Jersey that received a Coronavirus-related PPP loan from the SBA of $46,293.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:TD Bank, National Association
Horizon Engineering Consulting LLC in Linwood, NJ received a Paycheck Protection Loan of $46,293 through TD Bank, National Association, which was approved in May, 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 February, 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, Horizon Engineering Consulting LLC's 2019 payroll expenses are estimated to be at least $222,206.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $31,744 per employee1
Reported PPP Proceed Usage:
On the PPP application, Horizon Engineering Consulting LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,293
Business Information - Horizon Engineering Consulting LLC in Linwood, NJ
3 Candlewood Ct
Linwood, NJ 8221
Other Management Consulting Services
NAICS code 541618
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Linwood
In the Linwood area, 3 businesses in the "Other Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 7) and received an average PPP loan of $22,665 (compared to this company's $46,293).
Similar Nearby Businesses Who Received PPP Funding:
ACE Hospitality LLC
Industry PPP Comparison Statistics
Nationwide, 84,014 businesses in the "Other Management Consulting Services" industry received a total of $3.74B 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, 43% lower than Horizon Engineering Consulting LLC's reported 7 employees, and received an average PPP loan of $44,524, 4% lower than this company's loan of $46,293.
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Footnotes & Information
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