PPP Loan Data — SDI Technologies, Rahway, NJ
Entity: Subchapter S Corporation
Location: Rahway, NJTweet This • Search All PPP Data
SDI Technologies is a subchapter s corporation located at 1299 Main Street 0.0 in Rahway, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,256,387.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
SDI Technologies in Rahway, NJ received a Paycheck Protection Loan of $2.26M through JPMorgan Chase Bank, National Association, which was approved in April, 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, SDI Technologies' 2019 payroll expenses are estimated to be at least $10.83M.
Based on their reported 167 jobs retained, this equals an estimated average yearly compensation of $64,854 per employee1
Reported PPP Proceed Usage:
On the PPP application, SDI Technologies reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,674,999
- Utilities: $50,000
- Rent: $190,000
- Health Care: $191,388
- Debt Interest: $150,000
Business Information - SDI Technologies in Rahway, NJ
1299 Main Street 0.0
Rahway, NJ 7065
Other Miscellaneous Durable Goods Merchant Wholesalers
NAICS code 423990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Rahway
In the Rahway area, 6 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 167) and received an average PPP loan of $515,956 (compared to this company's $2.26M).
Similar Nearby Businesses Who Received PPP Funding:
Port Reading, NJ
Mighty Mug Inc
Industry PPP Comparison Statistics
Nationwide, 26,568 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1.98B 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, 96% lower than SDI Technologies' reported 167 employees, and received an average PPP loan of $74,615, 97% lower than this company's loan of $2.26M.
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Footnotes & Information
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