In Chester, Nearly 30 Businesses, Groups Benefit From PPP Loans

Jeff Arnold
Updated ·3 min read

CHESTER, NJ – The U.S. Small Business Administration and U.S. Treasury released details of the country's massive Paycheck Protection Program that helped New Jersey businesses affected by the coronavirus pandemic, more than 30 local businesses, not-for-profit organizations that are benefitting from PPP loans.

More than 4.9 million loans over $150,000 were made to businesses and nonprofit organizations across the country; the total amount for approved loans over that amount was more than $521 billion.

Around 22,000 businesses in New Jersey were approved for loans greater than $150,000. Loans over $150,000 account for about 925,000 jobs. Below is a breakdown of the amounts approved in New Jersey:

· $5 million to $10 million: 162
· $2 million to $5 million 844

· $1 million to $2 million: 1,823

· $350,000 to $1 million: 6,689
· $150,000 to $300,000: 12,339

In Chester, the following businesses were approved for loans between $150,000 and $1 Million and the list indicates how many jobs that were reinstated:

  • EMS LLC, 213

  • HARRINGTON CONSTRUCTION COMPANY, INC., 123

  • PHOENIX INSURANCE GROUP INC., 70

  • ALSTEDE FARMS, L.L.C.,65

  • AMERICAN FEDERAL MORTGAGE CORPORATION, 44

  • ANDREW E HALL & SON PLUMBING INC, 42

  • C.A. SHEA & COMPANY, INC., 19

  • CHESTER LIGHTING & SUPPLY INC, 24

  • FERRIERO ENGINEERING, INC.,19

  • HEALING AT HIDDEN RIVER, LLC, 33

  • MADELYN STORMS, 50

  • R&R CONSTRUCTION CO., INC., 58

  • R-WOODS INC, 89

  • AB COASTER LLC, 10

  • ALLIED TITLE LLC, 28

  • ANYEVENT LLC

  • ARCHFORENSIC LLC, 10

  • BLACK RIVER VETERINARY HOSPITAL LLC, 21

  • CHESTER SPRINGS SALON DI PARRUCCHIERE, 17

  • COM-EX CONSULTANTS, LLC, 18

  • DENALI PROPERTY MANAGEMENT INC, 10

  • FLORIO PETROU, 33

  • FRANK ANTHONY SALON INC., 35

  • GBI CONSULTING, 30

  • JAMES J MESSINA LANDSCAPING INC, 20

  • JAY D GELLER MC PC, 16

  • MIDOCO INC, 16

  • NIKI SILVERSTEIN EYE M.D. LLC, 15

  • PLANT DETECTIVES INC

  • REA GROUP LLC

  • STONY HILL GARDENS LLC

  • THE COUNTRY NURSERY INC., 27

  • THE RUN-A-TON GROUP, INC., 24

  • WJ HARRINGTON AND SONS LANDSCAPING LLC, 15

The following businesses and organizations in Mendham received PPP loans:

  • DAYTOP VILLAGE OF NEW JERSEY, INC., 89

  • SPJ MOTORS, LLC, 91

  • BARDESS GROUP, LTD., 35

  • J & L ELECTRICAL AND COMMUNICATIONS GROUP, INC., 0

  • MAPLECREST FORD INC., 37

  • SISTERS OF CHRISTIAN CHARITY OF NEW JERSEY, 0

  • CASTLEROCK GROUP, 49

  • CEDARWOOD LANDSCAPING, INC., 18

  • MAFFEI, MASIELLO & COMPANY, PA, 18

  • NORTHERN ANESTHESIA, PA, 4

  • PALISADE COMPLIANCE LLC, 17

  • PEGGNET LLC, 11

  • SAMMY'S YE OLD CIDER MILL, LLC 18

Loans to New Jersey businesses ran the gamut and included higher education institutions, private schools, manufacturers, car washes, real estate agent companies and non-profits.

The list of the recipients is above, although a number of businesses are now reporting that the list, in some instances, contains "some big errors," according to CNBC.

The loans are made by lending institutions including banks and credit unions and are guaranteed by the SBA. All PPP loans are subject to review by the SBA and all loans over $2 million are automatically reviewed by the SBA.

"Because a borrower is listed in the data as having a PPP loan does not mean that SBA has determined that the borrower complied with program rules or is eligible to receive a PPP loan and loan forgiveness," the SBA said in a statement about the data release.

The average size of a PPP loan is around $107,000 and 86.5 percent of all loans were for less than $150,000, according to the SBA.

PPP loans have an interest rate of one percent and can be fully forgiven if they are used to payroll costs, interest on mortgages, rent and utilities.

New Jersey Patch Editor Tom Davis contributed to this report.


This article originally appeared on the Mendham-Chester Patch