PPP Loan Data — Pro-Spec Painting Corporation, Vinealnd, NJ
Pro-Spec Painting Corporation
Location: Vinealnd, NJTweet This • Search All PPP Data
Pro-Spec Painting Corporation is a corporation located at 1819 Cedar Ave in Vinealnd, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Celtic Bank Corporation
Pro-Spec Painting Corporation in Vinealnd, NJ received a Paycheck Protection Loan of $25,300 through Celtic Bank Corporation, which was approved in May, 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, Pro-Spec Painting Corporation's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pro-Spec Painting Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,975
- Utilities: $3,163
- Rent: $3,163
Business Information - Pro-Spec Painting Corporation in Vinealnd, NJ
1819 Cedar Ave
Vinealnd, NJ 8360
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Vinealnd
In the Vinealnd area, 21 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 6) and received an average PPP loan of $33,314 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Madison Home Builders LLC
Delarosa's Refinishing, LLC
Jersey Top Quality Construction LLC
Nu-Rain Irrigation LLC
RPJ Properties LLC
Achristavest Developers, LLC
Charles R. Parrish, Inc
Industry PPP Comparison Statistics
Nationwide, 127,156 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.75B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 17% lower than Pro-Spec Painting Corporation's reported 6 employees, and received an average PPP loan of $45,182, 79% higher than this company's loan of $25,300.
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Footnotes & Information
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