FederalPay.org
PPP Loan Data — System Freight Inc,
Jamesburg, NJ
System Freight Inc
Entity: Subchapter S Corporation
Industry: General Freight Trucking, Local
Location: Jamesburg, NJ
Tweet This
•
Search All PPP Data
System Freight Inc is a subchapter s corporation located at 7 Centre Dr Ste 5 in Jamesburg, New Jersey that received a Coronavirus-related PPP loan from the SBA of $7,985,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
0 UnreportedLoan Approved:
2020-04-27Lender:
PNC BANK, NATIONAL ASSOCIATIONSystem Freight Inc received a Paycheck Protection Loan of $7.99M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, System Freight Inc's total 2019 payroll expenses were approximately $38.33M in order to qualify for the PPP loan amount received.
Unlike most businesses, System Freight Inc's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - System Freight Inc in Jamesburg, NJ
7 Centre Dr Ste 5
Jamesburg, NJ 8831
Business Industry
General Freight Trucking, Local (NAICS code 484110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NJ-12Similar Companies near Jamesburg
In the Jamesburg area, 25 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 0) and received an average PPP loan of $726,052 (compared to this company's $7.99M).
Similar Nearby Businesses Who Received PPP Funding:
SI Hyun Kim
Monroe, NJ
Lyon Logistics Inc.
Iselin, NJ
LJC Transport Services, Inc.
Monroe Township, NJ
JET Messenger Service, Inc.
Jamesburg, NJ
Kimbas Trucking LLC
Woodbridge Township, NJ
Gursar Trucking Inc
Iselin, NJ
V B C Trucking Corp
Jamesburg, NJ
Dipinto International Logistics, Corp.
Monroe Township, NJ
Yadwinder Singh
Iselin, NJ
Industry PPP Comparison Statistics
Nationwide, 63,007 businesses in the "General Freight Trucking, Local" industry received a total of $3,835,780,964.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, and received an average PPP loan of $60,879, 99% lower than this company's loan of $7.99M.
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.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!