PPP Loan Data — Merwick Care & Rehabilitation Center, LLC, Plainsboro, NJ
Merwick Care & Rehabilitation Center, LLC
Entity: Limited Liability Company (LLC)
Location: Plainsboro, NJTweet This • Search All PPP Data
Merwick Care & Rehabilitation Center, LLC is a limited liability company (LLC) located at 100 Plainsboro Rd in Plainsboro, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,833,663.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 190 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Merwick Care & Rehabilitation Center, LLC in Plainsboro, NJ received a Paycheck Protection Loan of $1.83M through Cross River Bank, which was approved in April, 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, Merwick Care & Rehabilitation Center, LLC's 2019 payroll expenses are estimated to be at least $8.8M.
Based on their reported 190 jobs retained, this equals an estimated average yearly compensation of $46,324 per employee1
Reported PPP Proceed Usage:
On the PPP application, Merwick Care & Rehabilitation Center, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,833,663
Business Information - Merwick Care & Rehabilitation Center, LLC in Plainsboro, NJ
100 Plainsboro Rd
Plainsboro, NJ 8536
Nursing Care Facilities (Skilled Nursing Facilities)
NAICS code 623110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 15,360 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $6.8B 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 60 employees, 68% lower than Merwick Care & Rehabilitation Center, LLC's reported 190 employees, and received an average PPP loan of $442,944, 76% lower than this company's loan of $1.83M.
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Footnotes & Information
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