PPP Loan Data — Truck Depot LLC, Newfoundland, NJ
Truck Depot LLC
Entity: Limited Liability Company (LLC)
Location: Newfoundland, NJTweet This • Search All PPP Data
Truck Depot LLC is a limited liability company (LLC) located in Newfoundland, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Truck Depot LLC in Newfoundland, NJ received a Paycheck Protection Loan of $25,000 through Bank of America, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Truck Depot LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Truck Depot LLC in Newfoundland, NJ
* Full address is redacted to protect the privacy of individuals.
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Newfoundland
In the Newfoundland area, 2 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $61,026 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Swim Fish Pool And Pond LLC-Sba Small 7A Term
Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B 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 4 employees, 300% higher than Truck Depot LLC's reported 1 employees, and received an average PPP loan of $34,329, 37% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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