PPP Loan Data — Lutheran Social Ministries Of New Jersey Inc, Burlington, NJ
Lutheran Social Ministries Of New Jersey Inc is a non-profit organization located at 3 Manhattan Dr in Burlington, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,853,462.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Lutheran Social Ministries Of New Jersey Inc received a Paycheck Protection Loan of $2.85M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Lutheran Social Ministries Of New Jersey Inc's total 2019 payroll expenses were approximately $13.7M in order to qualify for the PPP loan amount received.
Based on their reported 420 jobs retained, this equals an estimated average yearly compensation of $32,611 per employee1.
Business Information - Lutheran Social Ministries Of New Jersey Inc in Burlington, NJ
3 Manhattan Dr
Burlington, NJ 8016
Other Social Advocacy Organizations (NAICS code 813319)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NJ-03
Similar Companies near Burlington
In the Burlington area, 3 businesses in the "Other Social Advocacy Organizations" industry received a PPP loan. These local businesses reported an average of 195 employees (compared to this company's 420) and received an average PPP loan of $1,425,359 (compared to this company's $2.85M).
Similar Nearby Businesses Who Received PPP Funding:
Christian Caring Center, Pemberton, Inc.
Browns Mills, NJ
Burlington County Community Action Program
Industry PPP Comparison Statistics
Nationwide, 5,930 businesses in the "Other Social Advocacy Organizations" industry received a total of $1,048,421,927.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 17 employees, 96% lower than Lutheran Social Ministries Of New Jersey Inc's reported 420 employees, and received an average PPP loan of $176,800, 94% lower than this company's loan of $2.85M.
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Footnotes & Information
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