PPP Loan Data — Jewish Educational Center, Elizabeth, NJ
Jewish Educational Center is a non-profit organization located at 330 Elmora Ave in Elizabeth, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,718,337.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Jewish Educational Center in Elizabeth, NJ received a Paycheck Protection Loan of $1.72M through Northfield Bank, which was approved in April, 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 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, Jewish Educational Center's 2019 payroll expenses are estimated to be at least $8.25M.
Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $41,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jewish Educational Center reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,718,337
Business Information - Jewish Educational Center in Elizabeth, NJ
330 Elmora Ave
Elizabeth, NJ 7208
Other Grantmaking and Giving Services
NAICS code 813219
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Elizabeth
In the Elizabeth area, 4 businesses in the "Other Grantmaking and Giving Services" industry received a PPP loan. These local businesses reported an average of 76 employees (compared to this company's 200) and received an average PPP loan of $527,869 (compared to this company's $1.72M).
Similar Nearby Businesses Who Received PPP Funding:
The Institute Of Music For Children
Elizabeth Development Company Of New Jersey
Industry PPP Comparison Statistics
Nationwide, 9,799 businesses in the "Other Grantmaking and Giving Services" industry received a total of $1.32B 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 15 employees, 93% lower than Jewish Educational Center's reported 200 employees, and received an average PPP loan of $134,570, 92% lower than this company's loan of $1.72M.
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Footnotes & Information
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