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PPP Loan Data — SJS Hospitality LLC,
Edgewater, NJ
SJS Hospitality LLC
Entity: Limited Liability Company (LLC)
Industry: Hotels (except Casino Hotels) and Motels
Location: Edgewater, NJ
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SJS Hospitality LLC is a limited liability company (LLC) located at 660 River Rd in Edgewater, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as an Asian male owned business, and employed at least 270 people during the applicable loan loan period.
$
PPP Loan Information
Loan #2735558405
Loan Size:
Jobs Retained:
270Loan Approved:
2021-02-04Loan Status:
Ongoing LoanLender:
New Millennium BankSJS Hospitality LLC in Edgewater, NJ received a Paycheck Protection Loan of $2M through New Millennium Bank, which was approved in February, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, SJS Hospitality LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 270 jobs retained, this equals an estimated average yearly compensation of $35,556 per employee1
Reported PPP Proceed Usage:
On the PPP application, SJS Hospitality LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - SJS Hospitality LLC in Edgewater, NJ
660 River Rd
Edgewater, NJ 7020
Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Race: Asian
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Edgewater
In the Edgewater area, 8 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 96 employees (compared to this company's 270) and received an average PPP loan of $808,738 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Welcome Edgewater Limited Liability Company
Edgewater, NJ
Binghamton Motor Inn Corp
Edgewater, NJ
Welcome Edgewater Limited Liability Comp
Edgewater, NJ
Rockaway Hotel LLC
Edgewater, NJ
Industry PPP Comparison Statistics
Nationwide, 81,995 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.92B 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 23 employees, 91% lower than SJS Hospitality LLC's reported 270 employees, and received an average PPP loan of $169,748, 92% lower than this company's loan of $2M.
SJS Hospitality LLC
Entity: Limited Liability Company (LLC)
Industry: Hotels (except Casino Hotels) and Motels
Location: Edgewater, NJ
Tweet This
•
Search All PPP Data
SJS Hospitality LLC is a limited liability company (LLC) located at 660 River Rd in Edgewater, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,795,069.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least 270 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9540767001
Loan Size:
Jobs Retained:
270Loan Approved:
2020-04-09Loan Status:
Paid in Full or ForgivenLender:
PromiseOne BankSJS Hospitality LLC in Edgewater, NJ received a Paycheck Protection Loan of $2.8M through PromiseOne 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 August, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, SJS Hospitality LLC's 2019 payroll expenses are estimated to be at least $13.42M.
Based on their reported 270 jobs retained, this equals an estimated average yearly compensation of $49,690 per employee1
Reported PPP Proceed Usage:
On the PPP application, SJS Hospitality LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,795,069
Business Information - SJS Hospitality LLC in Edgewater, NJ
660 River Rd
Edgewater, NJ 7020
Business Industry:
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Race: Asian
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Edgewater
In the Edgewater area, 8 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 96 employees (compared to this company's 270) and received an average PPP loan of $808,738 (compared to this company's $2.8M).
Similar Nearby Businesses Who Received PPP Funding:
Welcome Edgewater Limited Liability Company
Edgewater, NJ
Binghamton Motor Inn Corp
Edgewater, NJ
Welcome Edgewater Limited Liability Comp
Edgewater, NJ
Rockaway Hotel LLC
Edgewater, NJ
Industry PPP Comparison Statistics
Nationwide, 81,995 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.92B 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 23 employees, 91% lower than SJS Hospitality LLC's reported 270 employees, and received an average PPP loan of $169,748, 94% lower than this company's loan of $2.8M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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