PPP Loan Data — Renee Systems, Inc, Manasquan, NJ
Renee Systems, Inc is a corporation located at 2517 Highway 35 in Manasquan, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,516,855.00 in April, 2020.
The company has reported itself as a male veteran owned business, and employed at least 144 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Renee Systems, Inc in Manasquan, NJ received a Paycheck Protection Loan of $2.52M through Manasquan Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Renee Systems, Inc's 2019 payroll expenses are estimated to be at least $12.08M.
Based on their reported 144 jobs retained, this equals an estimated average yearly compensation of $83,895 per employee1
Reported PPP Proceed Usage:
On the PPP application, Renee Systems, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,516,855
Business Information - Renee Systems, Inc in Manasquan, NJ
2517 Highway 35
Manasquan, NJ 8736
Computer Systems Design Services
NAICS code 541512
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Manasquan
In the Manasquan area, 5 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 144) and received an average PPP loan of $922,319 (compared to this company's $2.52M).
Similar Nearby Businesses Who Received PPP Funding:
Channel Methods Partners, LLC
Radiant Resources, Inc
Savvy It Group
Industry PPP Comparison Statistics
Nationwide, 31,382 businesses in the "Computer Systems Design Services" industry received a total of $4.35B 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 10 employees, 93% lower than Renee Systems, Inc's reported 144 employees, and received an average PPP loan of $138,748, 94% lower than this company's loan of $2.52M.
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Footnotes & Information
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