PPP Loan Data — Quest Consulting Inc, Somerset, NJ
Quest Consulting Inc is a subchapter s corporation located at 1075 Easton Ave in Somerset, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Quest Consulting Inc in Somerset, NJ received a Paycheck Protection Loan of $25,000 through PNC Bank, National Association, 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, Quest Consulting Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 21 jobs retained, this equals an estimated average yearly compensation of $5,714 per employee1
Reported PPP Proceed Usage:
On the PPP application, Quest Consulting Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Quest Consulting Inc in Somerset, NJ
1075 Easton Ave
Somerset, NJ 8873
All Other Support Activities for Transportation
NAICS code 488999
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Somerset
In the Somerset area, 10 businesses in the "All Other Support Activities for Transportation" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 21) and received an average PPP loan of $47,617 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
International Marketing Group Inc
Delta Logistics Inc
Franklin Township, NJ
Industry PPP Comparison Statistics
Nationwide, 18,826 businesses in the "All Other Support Activities for Transportation" industry received a total of $765.1M 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 6 employees, 71% lower than Quest Consulting Inc's reported 21 employees, and received an average PPP loan of $40,641, 63% higher than this company's loan of $25,000.
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Footnotes & Information
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