PPP Loan Data — Runit LLC, Franklin Lakes, NJ
Runit LLC is a limited liability company (LLC) located in Franklin Lakes, 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:JPMorgan Chase Bank, National Association
Runit LLC in Franklin Lakes, NJ received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Runit LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Runit LLC in Franklin Lakes, NJ
Franklin Lakes, NJ
* Full address is redacted to protect the privacy of individuals.
All Other Support Services
NAICS code 561990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Franklin Lakes
In the Franklin Lakes area, 3 businesses in the "All Other Support Services" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 1) and received an average PPP loan of $58,374 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Spring Lake Toys Foundation, Inc
Franklin Lakes, NJ
Back Thru The Future Computer Recycling Inc
Industry PPP Comparison Statistics
Nationwide, 33,705 businesses in the "All Other Support Services" industry received a total of $1.71B 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 7 employees, 600% higher than Runit LLC's reported 1 employees, and received an average PPP loan of $50,635, 103% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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