PPP Loan Data — Mental Health Association Of Essex And Morris, Inc, Montclair, NJ
Mental Health Association Of Essex And Morris, Inc
Entity: Non-profit Organization
Location: Montclair, NJTweet This • Search All PPP Data
Mental Health Association Of Essex And Morris, Inc is a non-profit organization located at 33 South Fullerton Ave in Montclair, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,813,667.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Valley National Bank
Mental Health Association Of Essex And Morris, Inc in Montclair, NJ received a Paycheck Protection Loan of $1.81M through Valley National Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
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, Mental Health Association Of Essex And Morris, Inc's 2019 payroll expenses are estimated to be at least $8.71M.
Based on their reported 191 jobs retained, this equals an estimated average yearly compensation of $45,579 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mental Health Association Of Essex And Morris, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,813,667
Business Information - Mental Health Association Of Essex And Morris, Inc in Montclair, NJ
33 South Fullerton Ave
Montclair, NJ 7042
Outpatient Mental Health and Substance Abuse Centers
NAICS code 621420
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Montclair
In the Montclair area, 3 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a PPP loan. These local businesses reported an average of 66 employees (compared to this company's 191) and received an average PPP loan of $614,893 (compared to this company's $1.81M).
Similar Nearby Businesses Who Received PPP Funding:
Israel Martinez, Lcsw LLC
The Family Center At Montclair LLC
Industry PPP Comparison Statistics
Nationwide, 11,274 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a total of $1.83B 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 18 employees, 91% lower than Mental Health Association Of Essex And Morris, Inc's reported 191 employees, and received an average PPP loan of $162,367, 91% lower than this company's loan of $1.81M.
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Footnotes & Information
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