PPP Loan Data — Princeton Moulding Group LLC, Somerville, NJ
Princeton Moulding Group LLC is a limited liability company (LLC) located at 76 Fourth Street in Somerville, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,130.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Valley National Bank
Princeton Moulding Group LLC in Somerville, NJ received a Paycheck Protection Loan of $25,130 through Valley National Bank, 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 May, 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, Princeton Moulding Group LLC's 2019 payroll expenses are estimated to be at least $120,624.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,156 per employee1
Reported PPP Proceed Usage:
On the PPP application, Princeton Moulding Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,130
Business Information - Princeton Moulding Group LLC in Somerville, NJ
76 Fourth Street
Somerville, NJ 8876
All Other Miscellaneous Manufacturing
NAICS code 339999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Somerville
In the Somerville area, 7 businesses in the "All Other Miscellaneous Manufacturing" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 4) and received an average PPP loan of $84,210 (compared to this company's $25,130).
Similar Nearby Businesses Who Received PPP Funding:
Abbott Industries Inc
Aflex Extrusion Technologies Inc
ATI International Inc
Branch Environmental Corp
Century Tube Corp
Industry PPP Comparison Statistics
Nationwide, 17,359 businesses in the "All Other Miscellaneous Manufacturing" industry received a total of $2.06B 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 12 employees, 200% higher than Princeton Moulding Group LLC's reported 4 employees, and received an average PPP loan of $118,586, 372% higher than this company's loan of $25,130.
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Footnotes & Information
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