PPP Loan Data — Jaeger Lumber & Supply Company, Inc, Union, NJ
Jaeger Lumber & Supply Company, Inc is a subchapter s corporation located at 2322 Morris Avenue in Union, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,300,475.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Jaeger Lumber & Supply Company, Inc in Union, NJ received a Paycheck Protection Loan of $2.3M through TD Bank, National Association, 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, Jaeger Lumber & Supply Company, Inc's 2019 payroll expenses are estimated to be at least $11.04M.
Based on their reported 153 jobs retained, this equals an estimated average yearly compensation of $72,172 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jaeger Lumber & Supply Company, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,300,475
Business Information - Jaeger Lumber & Supply Company, Inc in Union, NJ
2322 Morris Avenue
Union, NJ 7083
Other Building Material Dealers
NAICS code 444190
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Union
In the Union area, 6 businesses in the "Other Building Material Dealers" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 153) and received an average PPP loan of $419,461 (compared to this company's $2.3M).
Similar Nearby Businesses Who Received PPP Funding:
Doors Direct South, LLC
Walker Consulting, LLC
Innovative Tile & Stone Inc-Sba Small 7A Term
Doors Direct, LLC
Industry PPP Comparison Statistics
Nationwide, 11,057 businesses in the "Other Building Material Dealers" industry received a total of $1.4B 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 12 employees, 92% lower than Jaeger Lumber & Supply Company, Inc's reported 153 employees, and received an average PPP loan of $126,460, 95% lower than this company's loan of $2.3M.
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Footnotes & Information
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