PPP Loan Data — Sosa Painting LLC, Mays Landing, NJ
Sosa Painting LLC is a corporation located at 18 Fox Hollow Dr in Mays Landing, New Jersey that received a Coronavirus-related PPP loan from the SBA of $46,602.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:TD Bank, National Association
Sosa Painting LLC in Mays Landing, NJ received a Paycheck Protection Loan of $46,602 through TD Bank, National Association, which was approved in May, 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 January, 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, Sosa Painting LLC's 2019 payroll expenses are estimated to be at least $223,690.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,335 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sosa Painting LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,602
Business Information - Sosa Painting LLC in Mays Landing, NJ
18 Fox Hollow Dr
Mays Landing, NJ 8330
Painting and Wall Covering Contractors
NAICS code 238320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Mays Landing
In the Mays Landing area, 3 businesses in the "Painting and Wall Covering Contractors" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 11) and received an average PPP loan of $36,325 (compared to this company's $46,602).
Similar Nearby Businesses Who Received PPP Funding:
Perkins Painting Co LLC
Mays Landing, NJ
Industry PPP Comparison Statistics
Nationwide, 50,571 businesses in the "Painting and Wall Covering Contractors" industry received a total of $2.46B 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 5 employees, 55% lower than Sosa Painting LLC's reported 11 employees, and received an average PPP loan of $48,668, 4% higher than this company's loan of $46,602.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!