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PPP Loan Data — Marotta Controls, Inc, Montville, NJ

SBA PPP loan data, payroll data, and salaries for Marotta Controls, Inc
NJ

Marotta Controls, Inc

Entity: Sole Proprietorship

Industry: All Other Miscellaneous Store Retailers (except Tobacco Stores)

Location: Montville, NJ

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Marotta Controls, Inc is a sole proprietorship located at Po Box 427 in Montville, New Jersey that received a Coronavirus-related PPP loan from the SBA of $5,782,400.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 334 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$5.78M

Jobs Retained:

334

Loan Approved:

2020-04-15

Lender:

READYCAP LENDING, LLC

Marotta Controls, Inc in Montville, NJ received a Paycheck Protection Loan of $5.78M through READYCAP LENDING, LLC, which was approved in April, 2020.

Based on standard PPP eligibility rules, Marotta Controls, Inc's total 2019 payroll expenses were approximately $27.76M in order to qualify for the PPP loan amount received.

Based on their reported 334 jobs retained, this equals an estimated average yearly compensation of $83,100 per employee1.

Because the loan received by Marotta Controls, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Marotta Controls, Inc in Montville, NJ

Marotta Controls, Inc
Po Box 427
Montville, NJ 7045

Business Industry

All Other Miscellaneous Store Retailers (except Tobacco Stores) (NAICS code 453998)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: NJ-11

Similar Companies near Montville

In the Montville area, 2 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 178 employees (compared to this company's 334) and received an average PPP loan of $2,953,700 (compared to this company's $5.78M).

Similar Nearby Businesses Who Received PPP Funding:

189 Bloomfield Ave LLC
Verona, NJ

$125,000 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 67,030 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $3,394,491,072.00 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 6 employees, 98% lower than Marotta Controls, Inc's reported 334 employees, and received an average PPP loan of $50,641, 99% lower than this company's loan of $5.78M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/marotta-controls-inc-montville-nj