PPP Loan Data — Union Auto Parts Inc, North Bergen, NJ
Union Auto Parts Inc
Location: North Bergen, NJTweet This • Search All PPP Data
Union Auto Parts Inc is a corporation located at 1525 Kennedy Blvd in North Bergen, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Union Auto Parts Inc in North Bergen, NJ received a Paycheck Protection Loan of $25,200 through PNC Bank, National Association, which was approved in May, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Union Auto Parts Inc's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Union Auto Parts Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Union Auto Parts Inc in North Bergen, NJ
1525 Kennedy Blvd
North Bergen, NJ 7047
Motor Vehicle Supplies and New Parts Merchant Wholesalers
NAICS code 423120
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near North Bergen
In the North Bergen area, 3 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $62,677 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
First Choice Sales & Marketing Inc
Mountain Lakes, NJ
North Bergen, NJ
Industry PPP Comparison Statistics
Nationwide, 5,778 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a total of $789.24M 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 14 employees, 600% higher than Union Auto Parts Inc's reported 2 employees, and received an average PPP loan of $136,595, 442% higher than this company's loan of $25,200.
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