PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Strato Transit Components LLC, Piscataway, NJ

ALERT: There are 2 PPP loans for a total of $394,145 in our database for businesses with the name "Strato Transit Components LLC" in Piscataway, NJ. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Strato Transit Components LLC
NJ

Strato Transit Components LLC

Entity: Limited Liability Company (LLC)

Industry: Machine Shops

Location: Piscataway, NJ

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Strato Transit Components LLC is a limited liability company (LLC) located at 100 New England Ave in Piscataway, New Jersey that received a Coronavirus-related PPP loan from the SBA of $189,145.00 in May, 2021.

$ PPP Loan Information
Loan #2792799007

Loan Size:

$189,145

Jobs Retained:

14

Loan Approved:

2021-05-18

Loan Status:

Ongoing Loan

Lender:

Loan Source Incorporated

Strato Transit Components LLC in Piscataway, NJ received a Paycheck Protection Loan of $189,145 through Loan Source Incorporated, which was approved in May, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Strato Transit Components LLC's 2019 payroll expenses are estimated to be at least $907,896.

Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $64,850 per employee1

Reported PPP Proceed Usage:

On the PPP application, Strato Transit Components LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $189,140
  • Utilities: $1

Business Information - Strato Transit Components LLC in Piscataway, NJ

Strato Transit Components LLC
100 New England Ave
Piscataway, NJ 8854

Business Industry:
Machine Shops
NAICS code 332710

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Middlesex County, NJ — SBA Office 0299 — Congressional District: NJ-06

Similar Companies near Piscataway

In the Piscataway area, 2 businesses in the "Machine Shops" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 14) and received an average PPP loan of $125,041 (compared to this company's $189,145).

Similar Nearby Businesses Who Received PPP Funding:

Rapino Inc
Piscataway, NJ

$60,937 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 16,517 businesses in the "Machine Shops" industry received a total of $2.92B 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 15 employees, 7% higher than Strato Transit Components LLC's reported 14 employees, and received an average PPP loan of $176,761, 7% lower than this company's loan of $189,145.

SBA PPP loan data, payroll data, and salaries for Strato Transit Components LLC
NJ

Strato Transit Components LLC

Entity: Limited Liability Company (LLC)

Industry: Railroad Rolling Stock Manufacturing

Location: Piscataway, NJ

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Strato Transit Components LLC is a limited liability company (LLC) located at 100 New England Ave in Piscataway, New Jersey that received a Coronavirus-related PPP loan from the SBA of $205,000.00 in April, 2020.

$ PPP Loan Information
Loan #1978067208

Loan Size:

$205,000

Jobs Retained:

15

Loan Approved:

2020-04-15

Loan Status:

Ongoing Loan

Lender:

Loan Source Incorporated

Strato Transit Components LLC in Piscataway, NJ received a Paycheck Protection Loan of $205,000 through Loan Source Incorporated, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Strato Transit Components LLC's 2019 payroll expenses are estimated to be at least $984,000.

Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $65,600 per employee1

Reported PPP Proceed Usage:

On the PPP application, Strato Transit Components LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $205,000

Business Information - Strato Transit Components LLC in Piscataway, NJ

Strato Transit Components LLC
100 New England Ave
Piscataway, NJ 8854

Business Industry:
Railroad Rolling Stock Manufacturing
NAICS code 336510

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Middlesex County, NJ — SBA Office 0299 — Congressional District: NJ-06

Similar Companies near Piscataway

In the Piscataway area, 3 businesses in the "Railroad Rolling Stock Manufacturing" industry received a PPP loan. These local businesses reported an average of 72 employees (compared to this company's 15) and received an average PPP loan of $1,453,367 (compared to this company's $205,000).

Similar Nearby Businesses Who Received PPP Funding:

Strato Inc
Piscataway, NJ

$2M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 194 businesses in the "Railroad Rolling Stock Manufacturing" industry received a total of $87.6M 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 34 employees, 127% higher than Strato Transit Components LLC's reported 15 employees, and received an average PPP loan of $451,537, 120% higher than this company's loan of $205,000.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/strato-transit-components-llc-piscataway-nj