50 Cinnaminson Businesses Receive Coronavirus PPP Loans

CINNAMINSON, NJ — Fifty Cinnaminson businesses have received Paycheck Protection Program (PPP) loans from the U.S. Small Business Administration and U.S. Treasury, according to numbers released by federal officials.

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

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Below is the list of loans approved for Cinnaminson businesses:

$2-5 million

1. SEA BOX INC
2. TRANSAXLE LLC

$1-2 million

1. 7 OIL COMPANY, INC.
2. MUNICIPAL MAINTENANCE CO.

$350,000-1 million

1. AMERICAN SITEWORK LLC
2. ARMADILLO AUTOMATION INC
3. B & J PETS AND AQUARIUMS, INC.
4. BREADPARTNERS INC
5. CINNAMINSON NURSING LLC
6. COGNISOFT TECHNOLOGIES LLC
7. DELVA TOOL & MACHINE CORP
8. DOOLEY & KRETSCHMAN, INC.
9. ENSER CORPORATION
10. FOUR QUARTERS PLUMBING, HEATING & AIR CONDITIONING, INC.
11. INTEGRATED LAMINATE SYS'T.INC.
12. MIDLANTIC FIRE, LLC
13. MYLES TRANSPORTATION INC
14. OMNI RECYCLING LLC
15. QUAKER MECHANICAL, INC.
16. RAM ELECTRONIC INDUSTRIES INC
17. SHANNON PLASTERING AND DRYWALL CORPORATION
18. SICL AMERICA
19. STONE PARTNERSHIP INC
20. T M VACUUM PRODUCTS
21. THE INVENTORS SHOP LLC
22. THE MERION COPORATION
23. THOMAS LINDSTROM & CO INC

$150,000-350,000

1. A & R RECYCLING CO INC
2. ALPHA DENTAL SPA LLC
3. BERNARD N ROTHMAN DDS PA
4. BRADAM INC
5. CAREFIRST SPECIALTY PHARMACY LLC
6. CHICK'S TOWING
7. CHURCH OF ST. CHARLES BORROMEO
8. CLIMATE MECHANICS LLC
9. EDDIE B. PLUMBING, INC.
10. EDKER INDUSTRIES, INC
11. EXCEL CONTRACTORS LLC
12. HIBACHI 130 INC
13. HUNTER'S FLOORING INC.
14. IT TAKES A FAMILY LLC
15. JAMES STUFFO JR.
16. JINNY BEAUTY SUPPLY OF NEW JERSEY LLC
17. KEYSTONE REFRIGERATION SERVICE, INC.
18. KOBOLAK AND SON INC
19. LAUREL RUN LEASING
20. LINDSTROM MANAGEMENT CO
21. MICHAEL VANARIA DMD PC
22. MICRO-TEK CORPORATION
23. P. TAMBURRI STEEL, LLC
24. PEEK A BOO TOYS LIMITED
25. PORTERS PUB LLC
26. PROFESSIONAL PROPERTY APPRAISERS INC
27. SMYTH PROPERTY MANAGEMENT, LLC
28. STOUT & CALDWELL ENGINEERS, LLC
29. SWEETWATER @ HATHAWAYS
30. T LINDSTROM AND CO
31. THE PEAK SERVICE CORPORATION
32. TRUST OF WILLIAM J MYLES SR
33. WESTFIELD FRIENDS SCHOOL

See more stories about New Jersey's coronavirus recovery.

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

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.

See related: NJ Coronavirus Updates: Here's What You Need To Know