PPP Loan Data — Paramus Service Center-Sba Small 7A Term, Paramus, NJ
Paramus Service Center-Sba Small 7A Term is a limited liability company (LLC) located at E86 Ridgewood Ave in Paramus, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,482.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:TD Bank, National Association
Paramus Service Center-Sba Small 7A Term in Paramus, NJ received a Paycheck Protection Loan of $25,482 through TD Bank, 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 April, 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, Paramus Service Center-Sba Small 7A Term's 2019 payroll expenses are estimated to be at least $122,314.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,771 per employee1
Reported PPP Proceed Usage:
On the PPP application, Paramus Service Center-Sba Small 7A Term reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,482
Business Information - Paramus Service Center-Sba Small 7A Term in Paramus, NJ
E86 Ridgewood Ave
Paramus, NJ 7652
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Paramus Service Center-Sba Small 7A Term's reported 3 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,482.
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Footnotes & Information
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