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PPP Loan Data — Montco Inc,
East Brunswick, NJ
Montco Inc
Entity: Corporation
Industry: Employment Placement Agencies
Location: East Brunswick, NJ
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Montco Inc is a corporation located at 25 Kennedy Blvd in East Brunswick, New Jersey that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-15Lender:
PNC BANK, NATIONAL ASSOCIATIONMontco Inc received a Paycheck Protection Loan of $10M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Montco Inc's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.
Business Information - Montco Inc in East Brunswick, NJ
25 Kennedy Blvd
East Brunswick, NJ 8816
Business Industry
Employment Placement Agencies (NAICS code 561311)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NJ-12Similar Companies near East Brunswick
In the East Brunswick area, 4 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 127 employees (compared to this company's 500) and received an average PPP loan of $2,517,736 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
Sathya Sai Corporation
Edison, NJ
Oasis Technology Inc
East Brunswick, NJ
Magnum Personnel Corporation
East Brunswick, NJ
Industry PPP Comparison Statistics
Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 38 employees, 92% lower than Montco Inc's reported 500 employees, and received an average PPP loan of $363,100, 96% lower than this company's loan of $10M.
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.
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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