PPP Loan Data — Shoreline Dance Academy, Neptune City, NJ
Shoreline Dance Academy is a corporation located at 120 3rd Ave Ste 51 in Neptune City, New Jersey that received a Coronavirus-related PPP loan from the SBA of $46,207.00 in January, 2021.
The company has reported itself as a White male owned business, and employed at least fourteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Shoreline Dance Academy in Neptune City, NJ received a Paycheck Protection Loan of $46,207 through Cross River Bank, which was approved in January, 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, Shoreline Dance Academy's 2019 payroll expenses are estimated to be at least $221,794.
Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $15,842 per employee1
Reported PPP Proceed Usage:
On the PPP application, Shoreline Dance Academy reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,207
Business Information - Shoreline Dance Academy in Neptune City, NJ
120 3rd Ave Ste 51
Neptune City, NJ 7753
Sports and Recreation Instruction
NAICS code 611620
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Neptune City
In the Neptune City area, 8 businesses in the "Sports and Recreation Instruction" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 14) and received an average PPP loan of $297,633 (compared to this company's $46,207).
Similar Nearby Businesses Who Received PPP Funding:
Eastern Invitational Basketball Clinic, Inc
Pocono Invitational Basketball Camp, Inc
Children's Center Of Monmouth County, Inc
Neptune City, NJ
Industry PPP Comparison Statistics
Nationwide, 26,103 businesses in the "Sports and Recreation Instruction" industry received a total of $882.67M 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 8 employees, 43% lower than Shoreline Dance Academy's reported 14 employees, and received an average PPP loan of $33,815, 27% lower than this company's loan of $46,207.
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Footnotes & Information
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