PPP Loan Data — SEO Ultimate Pros LLC, Berlin, NJ
SEO Ultimate Pros LLC is a limited liability company (LLC) located at 211 N Grove Street in Berlin, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in July, 2020.
The company has reported itself as a White owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
SEO Ultimate Pros LLC in Berlin, NJ received a Paycheck Protection Loan of $25,000 through Wells Fargo Bank, National Association, which was approved in July, 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, SEO Ultimate Pros LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, SEO Ultimate Pros LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - SEO Ultimate Pros LLC in Berlin, NJ
211 N Grove Street
Berlin, NJ 8009
NAICS code 541810
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Berlin
In the Berlin area, 2 businesses in the "Advertising Agencies" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $19,687 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
B. Flatley Communications
Ship Bottom, NJ
Industry PPP Comparison Statistics
Nationwide, 24,012 businesses in the "Advertising Agencies" industry received a total of $2.39B 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, 40% higher than SEO Ultimate Pros LLC's reported 5 employees, and received an average PPP loan of $99,714, 299% higher than this company's loan of $25,000.
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