PPP Loan Data — M & R Color Plus LLC, Hackettstown, NJ
M & R Color Plus LLC is a limited liability company (LLC) located at 1 Us Highway 46 in Hackettstown, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,141.00 in June, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
M & R Color Plus LLC in Hackettstown, NJ received a Paycheck Protection Loan of $25,141 through Loan Source Incorporated, which was approved in June, 2020.
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, M & R Color Plus LLC's 2019 payroll expenses are estimated to be at least $120,677.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,226 per employee1
Reported PPP Proceed Usage:
On the PPP application, M & R Color Plus LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,141
Business Information - M & R Color Plus LLC in Hackettstown, NJ
1 Us Highway 46
Hackettstown, NJ 7840
NAICS code 561730
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Hackettstown
In the Hackettstown area, 11 businesses in the "Landscaping Services" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 3) and received an average PPP loan of $145,482 (compared to this company's $25,141).
Similar Nearby Businesses Who Received PPP Funding:
Richard A Mccoy Horticultural Services Inc
Joseph S Naclerio
Dungan Landscape Services LLC
Mine Hill, NJ
PMZ Landscaping Inc
Duke's Grounds Maintenance, Inc
Industry PPP Comparison Statistics
Nationwide, 138,585 businesses in the "Landscaping Services" industry received a total of $6.03B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 67% higher than M & R Color Plus LLC's reported 3 employees, and received an average PPP loan of $43,486, 73% higher than this company's loan of $25,141.
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Footnotes & Information
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