PPP Loan Data — V-Ice LLC, Ocean City, NJ
V-Ice LLC is a limited liability company (LLC) located at 1068 Boardwalk in Ocean City, 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:TD Bank, National Association
V-Ice LLC in Ocean City, NJ received a Paycheck Protection Loan of $25,000 through TD 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, V-Ice LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, V-Ice LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - V-Ice LLC in Ocean City, NJ
Ocean City, NJ 8226
Ice Cream and Frozen Dessert Manufacturing
NAICS code 311520
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Ocean City
In the Ocean City area, 2 businesses in the "Ice Cream and Frozen Dessert Manufacturing" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 5) and received an average PPP loan of $19,964 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
J And J Polish Ice Inc
Ocean City, NJ
Industry PPP Comparison Statistics
Nationwide, 2,071 businesses in the "Ice Cream and Frozen Dessert Manufacturing" industry received a total of $121.3M 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 12 employees, 140% higher than V-Ice LLC's reported 5 employees, and received an average PPP loan of $58,571, 134% higher than this company's loan of $25,000.
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Footnotes & Information
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