PPP Loan Data — Weber's Power Equipment Inc, Monroeville, NJ
Weber's Power Equipment Inc is a corporation located at 868 Elk Road in Monroeville, New Jersey that received a Coronavirus-related PPP loan from the SBA of $46,875.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Republic First Bank d/b/a Republic Bank
Weber's Power Equipment Inc in Monroeville, NJ received a Paycheck Protection Loan of $46,875 through Republic First Bank d/b/a Republic Bank, which was approved in April, 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 February, 2021.
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, Weber's Power Equipment Inc's 2019 payroll expenses are estimated to be at least $225,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $56,250 per employee1
Reported PPP Proceed Usage:
On the PPP application, Weber's Power Equipment Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,875
Business Information - Weber's Power Equipment Inc in Monroeville, NJ
868 Elk Road
Monroeville, NJ 8343
NAICS code 444130
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 8,816 businesses in the "Hardware Stores" industry received a total of $736.15M 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 13 employees, 225% higher than Weber's Power Equipment Inc's reported 4 employees, and received an average PPP loan of $83,502, 78% higher than this company's loan of $46,875.
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Footnotes & Information
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