PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — VAI Pro Marine Terminal Corporation, Newark, NJ

ALERT: There are 2 PPP loans for a total of $75,974 in our database for businesses with the name "VAI Pro Marine Terminal Corporation" in Newark, NJ. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for VAI Pro Marine Terminal Corporation
NJ

VAI Pro Marine Terminal Corporation

Entity: Corporation

Industry: Other Warehousing and Storage

Location: Newark, NJ

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VAI Pro Marine Terminal Corporation is a corporation located at 188 Jefferson St Ste 462 in Newark, New Jersey that received a Coronavirus-related PPP loan from the SBA of $41,667.00 in February, 2021.

$ PPP Loan Information
Loan #2049758406

Loan Size:

$41,667

Jobs Retained:

7

Loan Approved:

2021-02-03

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association

VAI Pro Marine Terminal Corporation in Newark, NJ received a Paycheck Protection Loan of $41,667 through JPMorgan Chase Bank, National Association, which was approved in February, 2021.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, VAI Pro Marine Terminal Corporation's 2019 payroll expenses are estimated to be at least $200,002.

Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $28,572 per employee1

Reported PPP Proceed Usage:

On the PPP application, VAI Pro Marine Terminal Corporation reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $41,665
  • Utilities: $1

Business Information - VAI Pro Marine Terminal Corporation in Newark, NJ

VAI Pro Marine Terminal Corporation
188 Jefferson St Ste 462
Newark, NJ 7105

Business Industry:
Other Warehousing and Storage
NAICS code 493190

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Essex County, NJ — SBA Office 0299 — Congressional District: NJ-08

Industry PPP Comparison Statistics

Nationwide, 1,592 businesses in the "Other Warehousing and Storage" industry received a total of $150.67M 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 11 employees, 57% higher than VAI Pro Marine Terminal Corporation's reported 7 employees, and received an average PPP loan of $94,641, 127% higher than this company's loan of $41,667.

SBA PPP loan data, payroll data, and salaries for VAI Pro Marine Terminal Corporation
NJ

VAI Pro Marine Terminal Corporation

Entity: Corporation

Industry: Marine Cargo Handling

Location: Newark, NJ

Search All PPP Data

VAI Pro Marine Terminal Corporation is a corporation located at 8-10 Lister Ave in Newark, New Jersey that received a Coronavirus-related PPP loan from the SBA of $34,307.00 in May, 2020.

$ PPP Loan Information
Loan #1681107707

Loan Size:

$34,307

Jobs Retained:

5

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association

VAI Pro Marine Terminal Corporation in Newark, NJ received a Paycheck Protection Loan of $34,307 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, VAI Pro Marine Terminal Corporation's 2019 payroll expenses are estimated to be at least $164,674.

Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $32,935 per employee1

Reported PPP Proceed Usage:

On the PPP application, VAI Pro Marine Terminal Corporation reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $26,835
  • Rent: $7,472

Business Information - VAI Pro Marine Terminal Corporation in Newark, NJ

VAI Pro Marine Terminal Corporation
8-10 Lister Ave
Newark, NJ 7105

Business Industry:
Marine Cargo Handling
NAICS code 488320

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Essex County, NJ — SBA Office 0299 — Congressional District: NJ-08

Similar Companies near Newark

In the Newark area, 2 businesses in the "Marine Cargo Handling" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 5) and received an average PPP loan of $2,200,380 (compared to this company's $34,307).

Similar Nearby Businesses Who Received PPP Funding:

AG Ship Maintenance Corp
Newark, NJ

$4.37M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 434 businesses in the "Marine Cargo Handling" industry received a total of $120.27M 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 24 employees, 380% higher than VAI Pro Marine Terminal Corporation's reported 5 employees, and received an average PPP loan of $277,124, 708% higher than this company's loan of $34,307.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/vai-pro-marine-terminal-corporation-newark-nj