PPP Loan Data — Rotor Clip Company, Inc., Somerset, NJ
Rotor Clip Company, Inc.
Location: Somerset, NJTweet This • Search All PPP Data
Rotor Clip Company, Inc. is a corporation located at 187 Davidson Ave in Somerset, New Jersey that received a Coronavirus-related PPP loan from the SBA of $4,700,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 271 people during the applicable loan loan period.
$ PPP Loan Information
Rotor Clip Company, Inc. received a Paycheck Protection Loan of $4.7M through PEAPACK-GLADSTONE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Rotor Clip Company, Inc.'s total 2019 payroll expenses were approximately $22.56M in order to qualify for the PPP loan amount received.
Based on their reported 271 jobs retained, this equals an estimated average yearly compensation of $83,247 per employee1.
Business Information - Rotor Clip Company, Inc. in Somerset, NJ
187 Davidson Ave
Somerset, NJ 8873
Laminated Plastics Plate, Sheet (except Packaging), and Shape Manufacturing (NAICS code 326130)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: NJ-12
Industry PPP Comparison Statistics
Nationwide, 151 businesses in the "Laminated Plastics Plate, Sheet (except Packaging), and Shape Manufacturing" industry received a total of $51,776,200.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 29 employees, 89% lower than Rotor Clip Company, Inc.'s reported 271 employees, and received an average PPP loan of $342,889, 93% lower than this company's loan of $4.7M.
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