PPP Loan Data — New Brunswick Edison Recreational, Edison, NJ
New Brunswick Edison Recreational is a subchapter s corporation located at 50 Route 1 North in Edison, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,094,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
New Brunswick Edison Recreational in Edison, NJ received a Paycheck Protection Loan of $2.09M 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, New Brunswick Edison Recreational's 2019 payroll expenses are estimated to be at least $10.06M.
Based on their reported 166 jobs retained, this equals an estimated average yearly compensation of $60,575 per employee1
Reported PPP Proceed Usage:
On the PPP application, New Brunswick Edison Recreational reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,094,900
Business Information - New Brunswick Edison Recreational in Edison, NJ
50 Route 1 North
Edison, NJ 8817
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Edison
In the Edison area, 19 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 87 employees (compared to this company's 166) and received an average PPP loan of $1,233,990 (compared to this company's $2.09M).
Similar Nearby Businesses Who Received PPP Funding:
Bell Motor Cars Inc
PAG Edison B1 LLC
Open Road Of Central Jersey LLC
Route 18 Auto LLC
East Brunswick, NJ
Open Road Of Edison Inc
UAG Central NJ LLC
Ray Catena Of Monmouth Corp
Ryan Motor Corp
East Brunswick, NJ
Industry PPP Comparison Statistics
Nationwide, 19,896 businesses in the "New Car Dealers" industry received a total of $12.31B 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 52 employees, 69% lower than New Brunswick Edison Recreational's reported 166 employees, and received an average PPP loan of $618,860, 70% lower than this company's loan of $2.09M.
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Footnotes & Information
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