PPP Loan Data — Smith-Sondy Asphalt Construction Co., Inc, Wallington, NJ
Smith-Sondy Asphalt Construction Co., Inc is a subchapter s corporation located at 150 Anderson Ave in Wallington, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,684,832.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Valley National Bank
Smith-Sondy Asphalt Construction Co., Inc in Wallington, NJ received a Paycheck Protection Loan of $1.68M through Valley National 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 March, 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, Smith-Sondy Asphalt Construction Co., Inc's 2019 payroll expenses are estimated to be at least $8.09M.
Based on their reported 85 jobs retained, this equals an estimated average yearly compensation of $95,143 per employee1
Reported PPP Proceed Usage:
On the PPP application, Smith-Sondy Asphalt Construction Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,684,832
Business Information - Smith-Sondy Asphalt Construction Co., Inc in Wallington, NJ
150 Anderson Ave
Wallington, NJ 7057
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 11,483 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.92B 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 26 employees, 69% lower than Smith-Sondy Asphalt Construction Co., Inc's reported 85 employees, and received an average PPP loan of $341,702, 80% lower than this company's loan of $1.68M.
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Footnotes & Information
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