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PPP Loan Data — Staffing Synergies Inc,
Matawan, NJ
Staffing Synergies Inc
Entity: Corporation
Industry: Employment Placement Agencies
Location: Matawan, NJ
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Staffing Synergies Inc is a corporation located at 100 Matawan Road Suite 130 in Matawan, New Jersey that received a Coronavirus-related PPP loan from the SBA of $5,000,000.00 in April, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least 500 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-15Lender:
TD BANK, NATIONAL ASSOCIATIONStaffing Synergies Inc in Matawan, NJ received a Paycheck Protection Loan of $5M through TD BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Staffing Synergies Inc's total 2019 payroll expenses were approximately $24M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $48,000 per employee1.
Business Information - Staffing Synergies Inc in Matawan, NJ
100 Matawan Road Suite 130
Matawan, NJ 07747
Business Industry
Employment Placement Agencies (NAICS code 561311)
Business Owner Demographics
Race / Ethnicity: BLACK OR AFRICAN AMERICAN
Gender: MALE OWNED
Veteran Status: VETERAN
Congressional District: NJ-06Similar Companies near Matawan
In the Matawan area, 3 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 168 employees (compared to this company's 500) and received an average PPP loan of $1,699,500 (compared to this company's $5M).
Similar Nearby Businesses Who Received PPP Funding:
Zeta Consulting LLC
Matawan, NJ
SL Staffing LLC
Marlboro, NJ
Industry PPP Comparison Statistics
Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 38 employees, 92% lower than Staffing Synergies Inc's reported 500 employees, and received an average PPP loan of $363,100, 93% lower than this company's loan of $5M.
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, and is published unmodified, as provided by the SBA.
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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