PPP Loan Data — S.g. II, LLC, Newark, NJ
S.g. II, LLC is a limited liability company (LLC) located at 574 Ferry Street in Newark, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,732,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 335 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
S.g. II, LLC in Newark, NJ received a Paycheck Protection Loan of $1.73M through ConnectOne Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 2021.
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, S.g. II, LLC's 2019 payroll expenses are estimated to be at least $8.31M.
Based on their reported 335 jobs retained, this equals an estimated average yearly compensation of $24,820 per employee1
Reported PPP Proceed Usage:
On the PPP application, S.g. II, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,732,200
Business Information - S.g. II, LLC in Newark, NJ
574 Ferry Street
Newark, NJ 7105
Office Administrative Services
NAICS code 561110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Newark
In the Newark area, 21 businesses in the "Office Administrative Services" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 335) and received an average PPP loan of $138,059 (compared to this company's $1.73M).
Similar Nearby Businesses Who Received PPP Funding:
The Seabra Group, LLC
EZ Interstate Billing LLC
Industry PPP Comparison Statistics
Nationwide, 44,947 businesses in the "Office Administrative Services" industry received a total of $2.36B 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 6 employees, 98% lower than S.g. II, LLC's reported 335 employees, and received an average PPP loan of $52,468, 97% lower than this company's loan of $1.73M.
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Footnotes & Information
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