PPP Loan Data — JK Spine Sales Inc, Tenafly, NJ
JK Spine Sales Inc
Entity: Subchapter S Corporation
Location: Tenafly, NJTweet This • Search All PPP Data
JK Spine Sales Inc is a subchapter s corporation located at 50 Oak Street in Tenafly, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
JK Spine Sales Inc in Tenafly, NJ received a Paycheck Protection Loan of $25,300 through Citibank, N.A., 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 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, JK Spine Sales Inc's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,720 per employee1
Reported PPP Proceed Usage:
On the PPP application, JK Spine Sales Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - JK Spine Sales Inc in Tenafly, NJ
50 Oak Street
Tenafly, NJ 7670
Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
NAICS code 423450
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 14,443 businesses in the "Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers" industry received a total of $1.42B 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 9 employees, 350% higher than JK Spine Sales Inc's reported 2 employees, and received an average PPP loan of $98,382, 289% higher than this company's loan of $25,300.
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Footnotes & Information
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