PPP Loan Data — MNR Gas Co, Columbus, NJ
MNR Gas Co is a corporation located at 1 Deerpath Ln in Columbus, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,472.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
MNR Gas Co in Columbus, NJ received a Paycheck Protection Loan of $25,472 through Bank of America, National Association, which was approved in May, 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 June, 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, MNR Gas Co's 2019 payroll expenses are estimated to be at least $122,266.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,378 per employee1
Reported PPP Proceed Usage:
On the PPP application, MNR Gas Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,472
Business Information - MNR Gas Co in Columbus, NJ
1 Deerpath Ln
Columbus, NJ 8022
Other Gasoline Stations
NAICS code 447190
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 6,490 businesses in the "Other Gasoline Stations" industry received a total of $343.18M 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, 50% higher than MNR Gas Co's reported 6 employees, and received an average PPP loan of $52,878, 108% higher than this company's loan of $25,472.
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Footnotes & Information
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