PPP Loan Data — S Squared Retirement Solutions, Montville, NJ
S Squared Retirement Solutions is a limited liability company (LLC) located in Montville, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
S Squared Retirement Solutions in Montville, NJ received a Paycheck Protection Loan of $25,000 through Columbia Bank, which was approved in July, 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, S Squared Retirement Solutions reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - S Squared Retirement Solutions in Montville, NJ
* Full address is redacted to protect the privacy of individuals.
NAICS code 523930
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Montville
In the Montville area, 12 businesses in the "Investment Advice" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $26,604 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Mountain Lakes, NJ
Green Ridge Wealth Planning
J & T Pkg & Consulting, LLC
Makrod Investment Association Inc
Scott E Costine Investment Advisor
Chris S. Fiorenzi
Antokal And Associates LLC
Industry PPP Comparison Statistics
Nationwide, 32,223 businesses in the "Investment Advice" industry received a total of $1.45B 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 4 employees, 300% higher than S Squared Retirement Solutions' reported 1 employees, and received an average PPP loan of $44,994, 80% 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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