PPP Loan Data — JRL Technologies Inc, Hackensack, NJ
JRL Technologies Inc is a corporation located at 2 University Plaza Suite 100 in Hackensack, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Manufacturers and Traders Trust Company
JRL Technologies Inc in Hackensack, NJ received a Paycheck Protection Loan of $25,100 through Manufacturers and Traders Trust Company, 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 April, 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, JRL Technologies Inc's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, JRL Technologies Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - JRL Technologies Inc in Hackensack, NJ
2 University Plaza Suite 100
Hackensack, NJ 7601
Other Computer Related Services
NAICS code 541519
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Hackensack
In the Hackensack area, 5 businesses in the "Other Computer Related Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $41,078 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Maxnet Technologies LLC
Zen Microtech LLC
Basanova Corp DBA Ramen Planet DBA Gundam Planet
Industry PPP Comparison Statistics
Nationwide, 25,371 businesses in the "Other Computer Related Services" industry received a total of $3.1B 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 8 employees, 300% higher than JRL Technologies Inc's reported 2 employees, and received an average PPP loan of $122,066, 386% higher than this company's loan of $25,100.
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Footnotes & Information
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