PPP Loan Data — HSS Holdings Inc, Woodbridge Township, NJ
HSS Holdings Inc is a corporation located at 160 Essex Avenue East in Woodbridge Township, New Jersey that received a Coronavirus-related PPP loan from the SBA of $46,397.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least ten people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Celtic Bank Corporation
HSS Holdings Inc in Woodbridge Township, NJ received a Paycheck Protection Loan of $46,397 through Celtic Bank Corporation, which was approved in April, 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, HSS Holdings Inc's 2019 payroll expenses are estimated to be at least $222,706.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,271 per employee1
Reported PPP Proceed Usage:
On the PPP application, HSS Holdings Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,798
- Utilities: $5,800
- Rent: $5,800
Business Information - HSS Holdings Inc in Woodbridge Township, NJ
160 Essex Avenue East
Woodbridge Township, NJ 7001
General Freight Trucking, Local
NAICS code 484110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Woodbridge Township
In the Woodbridge Township area, 111 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 10) and received an average PPP loan of $26,699 (compared to this company's $46,397).
Similar Nearby Businesses Who Received PPP Funding:
Nissin Trading Inc
Monsey One Inc
CR1 Auto Exchange LLC
Woodbridge Township, NJ
Industry PPP Comparison Statistics
Nationwide, 175,867 businesses in the "General Freight Trucking, Local" industry received a total of $6.6B 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 4 employees, 60% lower than HSS Holdings Inc's reported 10 employees, and received an average PPP loan of $37,520, 19% lower than this company's loan of $46,397.
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Footnotes & Information
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