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

PPP Loan Data — Vyzas & Associates PC, Jersey City, NJ

ALERT: There are 2 PPP loans for a total of $106,285 in our database for businesses with the name "Vyzas & Associates PC" in Jersey City, 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 Vyzas & Associates PC
NJ

Vyzas & Associates PC

Entity: Limited Liability Company (LLC)

Industry: Offices of Lawyers

Location: Jersey City, NJ

Search All PPP Data

Vyzas & Associates PC is a limited liability company (LLC) located at 20 Oakland Ave in Jersey City, New Jersey that received a Coronavirus-related PPP loan from the SBA of $59,425.00 in February, 2021.

$ PPP Loan Information
Loan #7244578409

Loan Size:

$59,425

Jobs Retained:

3

Loan Approved:

2021-02-11

Loan Status:

Ongoing Loan

Lender:

Loan Source Incorporated

Vyzas & Associates PC in Jersey City, NJ received a Paycheck Protection Loan of $59,425 through Loan Source Incorporated, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Vyzas & Associates PC's 2019 payroll expenses are estimated to be at least $285,240.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $95,080 per employee1

Reported PPP Proceed Usage:

On the PPP application, Vyzas & Associates PC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $59,423
  • Utilities: $1

Business Information - Vyzas & Associates PC in Jersey City, NJ

Vyzas & Associates PC
20 Oakland Ave
Jersey City, NJ 7306

Business Industry:
Offices of Lawyers
NAICS code 541110

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

Hudson County, NJ — SBA Office 0299 — Congressional District: NJ-10

Similar Companies near Jersey City

In the Jersey City area, 82 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $55,297 (compared to this company's $59,425).

Industry PPP Comparison Statistics

Nationwide, 200,895 businesses in the "Offices of Lawyers" industry received a total of $16.38B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 100% higher than Vyzas & Associates PC's reported 3 employees, and received an average PPP loan of $81,518, 37% higher than this company's loan of $59,425.

SBA PPP loan data, payroll data, and salaries for Vyzas & Associates, PC
NJ

Vyzas & Associates, PC

Entity: Limited Liability Company (LLC)

Industry: Offices of Lawyers

Location: Jersey City, NJ

Search All PPP Data

Vyzas & Associates, PC is a limited liability company (LLC) located at 20 Oakland Avenue in Jersey City, New Jersey that received a Coronavirus-related PPP loan from the SBA of $46,860.00 in April, 2020.

$ PPP Loan Information
Loan #5761557101

Loan Size:

$46,860

Jobs Retained:

3

Loan Approved:

2020-04-14

Loan Status:

Ongoing Loan

Lender:

Loan Source Incorporated

Vyzas & Associates, PC in Jersey City, NJ received a Paycheck Protection Loan of $46,860 through Loan Source Incorporated, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Vyzas & Associates, PC's 2019 payroll expenses are estimated to be at least $224,928.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,976 per employee1

Reported PPP Proceed Usage:

On the PPP application, Vyzas & Associates, PC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $46,860

Business Information - Vyzas & Associates, PC in Jersey City, NJ

Vyzas & Associates, PC
20 Oakland Avenue
Jersey City, NJ 7306

Business Industry:
Offices of Lawyers
NAICS code 541110

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

Hudson County, NJ — SBA Office 0299 — Congressional District: NJ-10

Similar Companies near Jersey City

In the Jersey City area, 82 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $55,297 (compared to this company's $46,860).

Industry PPP Comparison Statistics

Nationwide, 200,895 businesses in the "Offices of Lawyers" industry received a total of $16.38B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 100% higher than Vyzas & Associates, PC's reported 3 employees, and received an average PPP loan of $81,518, 74% higher than this company's loan of $46,860.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/vyzas-associates-pc-jersey-city-nj