Here Are The Summit Businesses That Got Coronavirus PPP Loans

Summit NJ

10 July, 2020

12:39 AM

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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, INCSUMMIT AREA YMCAALL MY FRIENDS LIMITED LIABILITY COMPANYBWG STRATEGY LLCCREATIVE SPEECH SOLUTIONSCYBER X DESIGNS LLCE3 HR INCEXCHANGE TRADED MANAGERS GROUP LLCFAMILY PROMISE INCFLOWCON, INC.GRIDUNITY, INC.HURLEY CONSULTING ASSOCIATES LTDJ.R. PRISCO INCORPORATEDMARSHALL WEINERMAN REAL ESTATE, INC.NAUTILUS SOLAR ENERGY, LLCOLENDERFELDMAN LLPORATORY SCHOOL OF SUMMIT NJPROPELLER CONSULTING INCQUANTIFI, INC.SAGE ELDERCARESAINT TERESA CATHOLIC CHURCHSALERNO DUANE INCSCHECHNER LIFSON CORPORATIONSUMMIT SUBURBAN HOTELSUMMIT TECH PARTNERS LLCTHE CONNECTION FOR WOMEN AND FAMILIESTHE HEART CENTER OF THE ORANGES, PATRAVELONG OF SUMMIT, INC.AESTHETIC DENTISTRY OF SUMMIT LLCALTRIUS CAPITAL MANAGEMENT, INC.ANI SUMMIT LLCAVELINO & HARTLAUB LLPAYA FOOD CORPBOURNE, NOLL, & KENYON, P.A.BROWN, MOSKOWITZ & KALLENCC PILATES INCCECONI & CHEIFETZ, LLCCENTRAL PRESBYTERIAN CHURCHCHAMBON ELECTRIC, INC.COVE DISCOUNT CARPETS INC.CRANE, TONELLI, ROSENBERG & CO LLPE.J. STASHLUK & SONS, INCEVERMORE GLOBAL ADVISORS, LLCFLEISCHMAN BONNER & ROCCO LLPGEARHART LAW LLCHILLTOP BICYCLES LLCINFUSION CARE EXPERTS INCJEWISH COMMUNITY CENTER OF SUMMIT NEW JERSEYJPW CONSULTING LLCKIDS MONTHLY PUBLICATIONSLA FOCACCIA CORPMERCHANT AVIATION LLCMONTCLAIR HOSPITALITY GROUP LLCMOUNTAINSIDE SECURITIES LLCNATALE'S SUMMIT BAKERYNEW JERSEY SPINE SPECIALISTSORCHARD HILLS DESIGN AND CONSTRUCTION LLCORCHESTRA MANAGEMENT SOLUTIONS, INC.PEOTTER AUTOBODY INCPROFESSIONAL APPRAISAL ASSOCIATESRENAISSANCE CHURCHSAXUM REAL ESTATE COMPANIESSCHWARTZ VINAHL & LOMURRO FAMILY LAW, LLCSOMO AUDIENCE CORP.SUMMIT CARWASH INCSUMMIT PREP, LLCSUMMIT PSYCHOLOGICAL SERVICES P ASUPERKIDS CHILD CARE AND LEARNING CENTER, L.L.C.TEMPLE SINAITHE RICHARD FRANCO AGENCY, INC.THE ROSEN GROUP ARCHITECTURE & DESIGN, LLCTHE SUE ADLER TEAMTRUHAVEN ENTERPRISES INCVENTURA MIESOWITZ KEOUGH & WARNER PCVISUAL ARTS CENTER OF NEW JERSEY, A NEW JERSEY NONPROFIT CORPORATIONWORK LIGHT PRODUCTIONS LLCZADIE'S NURTURING DEN INCZADIES EARLY CHILDHOOD CENTER LLCZOKU 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 [email protected]. 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.