PPP Loan Data — SJP Properties Company, Parsippany, NJ
SJP Properties Company
Location: Parsippany, NJTweet This • Search All PPP Data
SJP Properties Company is a corporation located at 389 Interpace Pkwy in Parsippany, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,710,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
SJP Properties Company in Parsippany, NJ received a Paycheck Protection Loan of $1.71M through PNC Bank, National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 82. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, SJP Properties Company's 2019 payroll expenses are estimated to be at least $8.21M (not accounting for salary amounts > $100k).
Because the 66 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, SJP Properties Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,710,400
Business Information - SJP Properties Company in Parsippany, NJ
389 Interpace Pkwy
Parsippany, NJ 7054
Lessors of Nonresidential Buildings (except Miniwarehouses)
NAICS code 531120
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Parsippany
In the Parsippany area, 13 businesses in the "Lessors of Nonresidential Buildings (except Miniwarehouses)" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 66) and received an average PPP loan of $220,201 (compared to this company's $1.71M).
Similar Nearby Businesses Who Received PPP Funding:
128 Passaic Ave LLC
The Gardens At Maplewood LLC
AH 580 Main LLC
Parsippany Shopping Plaza Inc
Julie Richard LLC
Middlebury Associates LLC
Parsippany Office Suites, LLC
Industry PPP Comparison Statistics
Nationwide, 19,255 businesses in the "Lessors of Nonresidential Buildings (except Miniwarehouses)" industry received a total of $1.72B 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 10 employees, 85% lower than SJP Properties Company's reported 66 employees, and received an average PPP loan of $89,367, 95% lower than this company's loan of $1.71M.
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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