PPP Loan Data — Kanebridge Corporation, Oakland, NJ
Kanebridge Corporation is a corporation located at 153 Bauer Drive in Oakland, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,564,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
Kanebridge Corporation in Oakland, NJ received a Paycheck Protection Loan of $1.56M through Loan Source Incorporated, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Kanebridge Corporation's 2019 payroll expenses are estimated to be at least $7.51M.
Based on their reported 80 jobs retained, this equals an estimated average yearly compensation of $93,840 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kanebridge Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,564,000
Business Information - Kanebridge Corporation in Oakland, NJ
153 Bauer Drive
Oakland, NJ 7436
Industrial Supplies Merchant Wholesalers
NAICS code 423840
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, 6,397 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $1.02B 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 13 employees, 84% lower than Kanebridge Corporation's reported 80 employees, and received an average PPP loan of $160,215, 90% lower than this company's loan of $1.56M.
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Footnotes & Information
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