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PPP Loan Data — Mike And Malik LLC, East Brunswick, NJ

ALERT: There are 2 PPP loans for a total of $42,684 in our database for businesses with the name "Mike And Malik LLC" in East Brunswick, NJ. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Mike And Malik LLC
NJ

Mike And Malik LLC

Entity: Limited Liability Company (LLC)

Industry: Computer Facilities Management Services

Location: East Brunswick, NJ

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Mike And Malik LLC is a limited liability company (LLC) located in East Brunswick, New Jersey that received a Coronavirus-related PPP loan from the SBA of $17,333.00 in March, 2021.

The company has reported itself as an Asian male owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #6232678609

Loan Size:

$17,333

Jobs Retained:

1

Loan Approved:

2021-03-20

Loan Status:

Ongoing Loan

Lender:

Bank of America, National Association

Mike And Malik LLC in East Brunswick, NJ received a Paycheck Protection Loan of $17,333 through Bank of America, National Association, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Mike And Malik LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $17,330
  • Utilities: $1

Business Information - Mike And Malik LLC in East Brunswick, NJ

Mike And Malik LLC
East Brunswick, NJ
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Computer Facilities Management Services
NAICS code 541513

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Middlesex County, NJ — SBA Office 0299 — Congressional District: NJ-12

Similar Companies near East Brunswick

In the East Brunswick area, 8 businesses in the "Computer Facilities Management Services" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 1) and received an average PPP loan of $160,462 (compared to this company's $17,333).

Industry PPP Comparison Statistics

Nationwide, 3,511 businesses in the "Computer Facilities Management Services" industry received a total of $425.97M 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 9 employees, 800% higher than Mike And Malik LLC's reported 1 employees, and received an average PPP loan of $121,326, 600% higher than this company's loan of $17,333.

SBA PPP loan data, payroll data, and salaries for Mike And Malik LLC
NJ

Mike And Malik LLC

Entity: Limited Liability Company (LLC)

Industry: Custom Computer Programming Services

Location: East Brunswick, NJ

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Mike And Malik LLC is a limited liability company (LLC) located in East Brunswick, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,351.00 in May, 2020.

The company has reported itself as an Asian male owned business, and employed at least one person during the applicable loan loan period.

$ PPP Loan Information
Loan #5099277802

Loan Size:

$25,351

Jobs Retained:

1

Loan Approved:

2020-05-29

Loan Status:

Ongoing Loan

Lender:

Bank of America, National Association
Likely Employment Reduction3

Mike And Malik LLC in East Brunswick, NJ received a Paycheck Protection Loan of $25,351 through Bank of America, National Association, which was approved in May, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Mike And Malik LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,351

Business Information - Mike And Malik LLC in East Brunswick, NJ

Mike And Malik LLC
East Brunswick, NJ
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Custom Computer Programming Services
NAICS code 541511

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Middlesex County, NJ — SBA Office 0299 — Congressional District: NJ-12

Similar Companies near East Brunswick

In the East Brunswick area, 70 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 1) and received an average PPP loan of $415,429 (compared to this company's $25,351).

Industry PPP Comparison Statistics

Nationwide, 43,326 businesses in the "Custom Computer Programming Services" industry received a total of $6.67B 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 10 employees, 900% higher than Mike And Malik LLC's reported 1 employees, and received an average PPP loan of $153,857, 507% higher than this company's loan of $25,351.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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.

3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.


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Source: www.federalpay.org/paycheck-protection-program/mike-and-malik-llc-east-brunswick-nj