PPP Loan Data — Naik Consulting Group PC, Edison, NJ
Naik Consulting Group PC is a subchapter s corporation located at 200 Metroplex Dr in Edison, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,730,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Naik Consulting Group PC in Edison, NJ received a Paycheck Protection Loan of $2.73M through PNC Bank, National Association, 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, Naik Consulting Group PC's 2019 payroll expenses are estimated to be at least $13.1M.
Based on their reported 146 jobs retained, this equals an estimated average yearly compensation of $89,753 per employee1
Reported PPP Proceed Usage:
On the PPP application, Naik Consulting Group PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,730,000
Business Information - Naik Consulting Group PC in Edison, NJ
200 Metroplex Dr
Edison, NJ 8817
NAICS code 541330
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Edison
In the Edison area, 26 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 146) and received an average PPP loan of $234,025 (compared to this company's $2.73M).
Similar Nearby Businesses Who Received PPP Funding:
HPL Engineering PC
Xenon Inc Of NJ
DVR Softek Inc
Globaltek Engineering LLC
AEL Group LLC
Mbran Research LLC
SA Engineering LLC
Yantra Consultng Inc
Architecture And Engineering Group, PC
East Brunswick, NJ
Industry PPP Comparison Statistics
Nationwide, 47,152 businesses in the "Engineering Services" industry received a total of $9.19B 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 13 employees, 91% lower than Naik Consulting Group PC's reported 146 employees, and received an average PPP loan of $194,873, 93% lower than this company's loan of $2.73M.
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Footnotes & Information
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