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PPP Loan Data — Sloan & Company Inc, Mountain Lakes, NJ

SBA PPP loan data, payroll data, and salaries for Sloan & Company Inc
NJ

Sloan & Company Inc

Entity: Corporation

Industry: Drywall and Insulation Contractors

Location: Mountain Lakes, NJ

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Sloan & Company Inc is a corporation located at 49 Bloomfield Ave, Suite 101 in Mountain Lakes, New Jersey that received a Coronavirus-related PPP loan from the SBA of $6,184,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.18M

Jobs Retained:

336

Loan Approved:

2020-04-08

Lender:

PEAPACK-GLADSTONE BANK

Sloan & Company Inc received a Paycheck Protection Loan of $6.18M through PEAPACK-GLADSTONE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Sloan & Company Inc's total 2019 payroll expenses were approximately $29.69M in order to qualify for the PPP loan amount received.

Based on their reported 336 jobs retained, this equals an estimated average yearly compensation of $88,353 per employee1.

Because the loan received by Sloan & Company Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Sloan & Company Inc in Mountain Lakes, NJ

Sloan & Company Inc
49 Bloomfield Ave, Suite 101
Mountain Lakes, NJ 7046

Business Industry

Drywall and Insulation Contractors (NAICS code 238310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-11

Similar Companies near Mountain Lakes

In the Mountain Lakes area, 5 businesses in the "Drywall and Insulation Contractors" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 336) and received an average PPP loan of $1,264,996 (compared to this company's $6.18M).

Industry PPP Comparison Statistics

Nationwide, 8,671 businesses in the "Drywall and Insulation Contractors" industry received a total of $1,670,996,792.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 14 employees, 96% lower than Sloan & Company Inc's reported 336 employees, and received an average PPP loan of $192,711, 97% lower than this company's loan of $6.18M.

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.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/sloan-and-company-inc-mountain-lakes-nj