PPP Loan Data — Penny Plate, Inc, Mount Laurel Township, NJ
Penny Plate, Inc
Location: Mount Laurel Township, NJTweet This • Search All PPP Data
Penny Plate, Inc is a corporation located at 14000 Horizon Way in Mount Laurel Township, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,603,060.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Celtic Bank Corporation
Penny Plate, Inc in Mount Laurel Township, NJ received a Paycheck Protection Loan of $1.6M through Celtic Bank Corporation, which was approved in April, 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 February, 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, Penny Plate, Inc's 2019 payroll expenses are estimated to be at least $7.69M.
Based on their reported 210 jobs retained, this equals an estimated average yearly compensation of $36,641 per employee1
Reported PPP Proceed Usage:
On the PPP application, Penny Plate, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,603,060
Business Information - Penny Plate, Inc in Mount Laurel Township, NJ
14000 Horizon Way
Mount Laurel Township, NJ 8054
Other Personal and Household Goods Repair and Maintenance
NAICS code 811490
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Mount Laurel Township
In the Mount Laurel Township area, 4 businesses in the "Other Personal and Household Goods Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 210) and received an average PPP loan of $418,691 (compared to this company's $1.6M).
Similar Nearby Businesses Who Received PPP Funding:
Water Boy Power Washing LLC
Time Machine Repair-Sba Small 7A Term
AL&Bruna Tailor Shop
Industry PPP Comparison Statistics
Nationwide, 26,317 businesses in the "Other Personal and Household Goods Repair and Maintenance" industry received a total of $687.28M 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 3 employees, 99% lower than Penny Plate, Inc's reported 210 employees, and received an average PPP loan of $26,116, 98% lower than this company's loan of $1.6M.
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Footnotes & Information
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