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PPP Loan Data — Nostrum Pharmaceuticals, LLC, Somerset, NJ

SBA PPP loan data, payroll data, and salaries for Nostrum Pharmaceuticals, LLC
NJ

Nostrum Pharmaceuticals, LLC

Entity: Limited Liability Company (LLC)

Industry: Research and Development in Nanotechnology

Location: Somerset, NJ

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Nostrum Pharmaceuticals, LLC is a limited liability company (LLC) located at 1370 Hamilton St in Somerset, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,860,100.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 225 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.86M

Jobs Retained:

225

Loan Approved:

2020-04-14

Lender:

PNC BANK, NATIONAL ASSOCIATION

Nostrum Pharmaceuticals, LLC in Somerset, NJ received a Paycheck Protection Loan of $2.86M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Nostrum Pharmaceuticals, LLC's total 2019 payroll expenses were approximately $13.73M in order to qualify for the PPP loan amount received.

Based on their reported 225 jobs retained, this equals an estimated average yearly compensation of $61,015 per employee1.

Because the loan received by Nostrum Pharmaceuticals, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Nostrum Pharmaceuticals, LLC in Somerset, NJ

Nostrum Pharmaceuticals, LLC
1370 Hamilton St
Somerset, NJ 08873

Business Industry

Research and Development in Nanotechnology (NAICS code 541713)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: NJ-12

Similar Companies near Somerset

In the Somerset area, 2 businesses in the "Research and Development in Nanotechnology" industry received a PPP loan. These local businesses reported an average of 113 employees (compared to this company's 225) and received an average PPP loan of $2,435,350 (compared to this company's $2.86M).

Similar Nearby Businesses Who Received PPP Funding:

Princeton Procure Management, LLC
Somerset, NJ

$2.01M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 568 businesses in the "Research and Development in Nanotechnology" industry received a total of $121,547,035.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 12 employees, 95% lower than Nostrum Pharmaceuticals, LLC's reported 225 employees, and received an average PPP loan of $213,991, 93% lower than this company's loan of $2.86M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/nostrum-pharmaceuticals-llc-somerset-nj