Here Are The Summit Businesses That Got Coronavirus PPP Loans
SUMMIT, NJ — The U.S. Small Business Administration and U.S. Treasury released details this week of the country’s massive Paycheck Protection Program that helped New Jersey businesses affected by the coronavirus pandemic (see list below).
PPP loans have an interest rate of 1 percent and can be fully forgiven if they are used for payroll costs, rent, and other items.
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.
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.
Jenkinson's in Point Pleasant Beach got between $1 million and $2 million. Care Plus NJ in Paramus received between $5 million and $10 million, which helped support 401 jobs, according to the SBA data. The Dwight-Englewood School got between $2 million and $5 million, which helped support 304 jobs. High Grade Beverage in North Brunswick got a loan between $2 million and $ 5 million, which helped support 258 jobs.
Here are the Summit businesses on the NJ list:
SIMPLICITY FINANCIAL MARKETING HOLDINGS INC.
OAK KNOLL SCHOOL OF THE HOLY CHILD, INC.
COLLEGIUM HOLDINGS, INC.
DOUGLAS MOTORS CORP.
KENT PLACE SCHOOL, INC.
SMYTHE VOLVO, INC
SUMMIT AREA YMCA
ALL MY FRIENDS LIMITED LIABILITY COMPANY
BWG STRATEGY LLC
CREATIVE SPEECH SOLUTIONS
CYBER X DESIGNS LLC
E3 HR INC
EXCHANGE TRADED MANAGERS GROUP LLC
FAMILY PROMISE INC
FLOWCON, INC.
GRIDUNITY, INC.
HURLEY CONSULTING ASSOCIATES LTD
J.R. PRISCO INCORPORATED
MARSHALL WEINERMAN REAL ESTATE, INC.
NAUTILUS SOLAR ENERGY, LLC
OLENDERFELDMAN LLP
ORATORY SCHOOL OF SUMMIT NJ
PROPELLER CONSULTING INC
QUANTIFI, INC.
SAGE ELDERCARE
SAINT TERESA CATHOLIC CHURCH
SALERNO DUANE INC
SCHECHNER LIFSON CORPORATION
SUMMIT SUBURBAN HOTEL
SUMMIT TECH PARTNERS LLC
THE CONNECTION FOR WOMEN AND FAMILIES
THE HEART CENTER OF THE ORANGES, PA
TRAVELONG OF SUMMIT, INC.
AESTHETIC DENTISTRY OF SUMMIT LLC
ALTRIUS CAPITAL MANAGEMENT, INC.
ANI SUMMIT LLC
AVELINO & HARTLAUB LLP
AYA FOOD CORP
BOURNE, NOLL, & KENYON, P.A.
BROWN, MOSKOWITZ & KALLEN
CC PILATES INC
CECONI & CHEIFETZ, LLC
CENTRAL PRESBYTERIAN CHURCH
CHAMBON ELECTRIC, INC.
COVE DISCOUNT CARPETS INC.
CRANE, TONELLI, ROSENBERG & CO LLP
E.J. STASHLUK & SONS, INC
EVERMORE GLOBAL ADVISORS, LLC
FLEISCHMAN BONNER & ROCCO LLP
GEARHART LAW LLC
HILLTOP BICYCLES LLC
INFUSION CARE EXPERTS INC
JEWISH COMMUNITY CENTER OF SUMMIT NEW JERSEY
JPW CONSULTING LLC
KIDS MONTHLY PUBLICATIONS
LA FOCACCIA CORP
MERCHANT AVIATION LLC
MONTCLAIR HOSPITALITY GROUP LLC
MOUNTAINSIDE SECURITIES LLC
NATALE'S SUMMIT BAKERY
NEW JERSEY SPINE SPECIALISTS
ORCHARD HILLS DESIGN AND CONSTRUCTION LLC
ORCHESTRA MANAGEMENT SOLUTIONS, INC.
PEOTTER AUTOBODY INC
PROFESSIONAL APPRAISAL ASSOCIATES
RENAISSANCE CHURCH
SAXUM REAL ESTATE COMPANIES
SCHWARTZ VINAHL & LOMURRO FAMILY LAW, LLC
SOMO AUDIENCE CORP.
SUMMIT CARWASH INC
SUMMIT PREP, LLC
SUMMIT PSYCHOLOGICAL SERVICES P A
SUPERKIDS CHILD CARE AND LEARNING CENTER, L.L.C.
TEMPLE SINAI
THE RICHARD FRANCO AGENCY, INC.
THE ROSEN GROUP ARCHITECTURE & DESIGN, LLC
THE SUE ADLER TEAM
TRUHAVEN ENTERPRISES INC
VENTURA MIESOWITZ KEOUGH & WARNER PC
VISUAL ARTS CENTER OF NEW JERSEY, A NEW JERSEY NONPROFIT CORPORATION
WORK LIGHT PRODUCTIONS LLC
ZADIE'S NURTURING DEN INC
ZADIES EARLY CHILDHOOD CENTER LLC
ZOKU SALON, LLC
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.
To use the searchable database of New Jersey loans over $150,000, click this story and scroll to the bottom.
Got news? Email caren.lissner@patch.com. To keep up with breaking news in your town and statewide when it happens, and get a free local newsletter each morning, sign up for Patch breaking news alerts and daily newsletters.
This article originally appeared on the Summit Patch
