PPP Loan Data — SM 2009 LLC, Maplewood, NJ
SM 2009 LLC is a limited liability company (LLC) located at 752 Irvington Avenue in Maplewood, New Jersey that received a Coronavirus-related PPP loan from the SBA of $45,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
SM 2009 LLC in Maplewood, NJ received a Paycheck Protection Loan of $45,900 through Loan Source Incorporated, which was approved in April, 2020.
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, SM 2009 LLC's 2019 payroll expenses are estimated to be at least $220,320.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,032 per employee1
Reported PPP Proceed Usage:
On the PPP application, SM 2009 LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,900
Business Information - SM 2009 LLC in Maplewood, NJ
752 Irvington Avenue
Maplewood, NJ 7040
NAICS code 445120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Maplewood
In the Maplewood area, 5 businesses in the "Convenience Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 10) and received an average PPP loan of $24,801 (compared to this company's $45,900).
Similar Nearby Businesses Who Received PPP Funding:
Vino & Varsha LLC
Sam Food Mart LLC
Mahi Foods Inc
Industry PPP Comparison Statistics
Nationwide, 30,055 businesses in the "Convenience Stores" industry received a total of $856.22M 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, 40% lower than SM 2009 LLC's reported 10 employees, and received an average PPP loan of $28,488, 38% lower than this company's loan of $45,900.
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Footnotes & Information
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