PPP Loan Data — Telesearch Inc, Flanders, NJ
Telesearch Inc is a corporation located at 251 U.s. Highway 206 in Flanders, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,337,845.00 in April, 2020.
$ PPP Loan Information
Lender:FULTON BANK, NATIONAL ASSOCIATION
Telesearch Inc in Flanders, NJ received a Paycheck Protection Loan of $3.34M through FULTON BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Telesearch Inc's total 2019 payroll expenses were approximately $16.02M 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 $32,043 per employee1.
Business Information - Telesearch Inc in Flanders, NJ
251 U.s. Highway 206
Flanders, NJ 7836
Temporary Help Services (NAICS code 561320)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NJ-07
Industry PPP Comparison Statistics
Nationwide, 4,404 businesses in the "Temporary Help Services" industry received a total of $2,681,304,257.00 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 61 employees, 88% lower than Telesearch Inc's reported 500 employees, and received an average PPP loan of $608,834, 82% lower than this company's loan of $3.34M.
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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