PPP Loan Data — Magnum Personnel Corporation, East Brunswick, NJ
Magnum Personnel Corporation is a subchapter s corporation located at 1 Patriot Ct in East Brunswick, New Jersey that received a Coronavirus-related PPP loan from the SBA of $15,000.00 in May, 2020.
The company has reported itself as a Hispanic female owned business, and employed at least one person during the applicable loan loan period.
$ PPP Loan Information
Lender:NEWTEK SMALL BUSINESS FINANCE, INC.
Magnum Personnel Corporation received a Paycheck Protection Loan of $15,000 through NEWTEK SMALL BUSINESS FINANCE, INC., which was approved in May, 2020.
Based on standard PPP eligibility rules, Magnum Personnel Corporation's total 2019 payroll expenses were approximately $72,000 in order to qualify for the PPP loan amount received.
Based on their reported 1 jobs retained, this equals an estimated average yearly compensation of $72,000 per employee1.
Business Information - Magnum Personnel Corporation in East Brunswick, NJ
1 Patriot Ct
East Brunswick, NJ 8816
Employment Placement Agencies (NAICS code 561311)
Business Owner Demographics
Race / Ethnicity: HISPANIC
Gender: FEMALE OWNED
Veteran Status: NON-VETERANCongressional District: NJ-12
Similar Companies near East Brunswick
In the East Brunswick area, 4 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 127 employees (compared to this company's 1) and received an average PPP loan of $2,517,736 (compared to this company's $15,000).
Similar Nearby Businesses Who Received PPP Funding:
Sathya Sai Corporation
East Brunswick, NJ
Oasis Technology Inc
East Brunswick, NJ
Industry PPP Comparison Statistics
Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 38 employees, 3700% higher than Magnum Personnel Corporation's reported 1 employees, and received an average PPP loan of $363,100, 2321% higher than this company's loan of $15,000.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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