PPP Loan Data — Valentinos LLC, Flanders, NJ
Valentinos LLC is a limited liability company (LLC) located at 293 Route 206 in Flanders, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,095.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Valley National Bank
Valentinos LLC in Flanders, NJ received a Paycheck Protection Loan of $25,095 through Valley National Bank, which was approved in April, 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, Valentinos LLC's 2019 payroll expenses are estimated to be at least $120,456.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,076 per employee1
Reported PPP Proceed Usage:
On the PPP application, Valentinos LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,095
Business Information - Valentinos LLC in Flanders, NJ
293 Route 206
Flanders, NJ 7836
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Flanders
In the Flanders area, 8 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 6) and received an average PPP loan of $59,653 (compared to this company's $25,095).
Similar Nearby Businesses Who Received PPP Funding:
The After Charbroil And Ice Cream Parlor
BG Budz LLC
White Birch Restaurant
New China House Kitchen LLC
White Birch Restaurant LLC
JAI Sri Balaji LLC
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 267% higher than Valentinos LLC's reported 6 employees, and received an average PPP loan of $129,504, 416% higher than this company's loan of $25,095.
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Footnotes & Information
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