49 Gloucester Township Businesses Receive Coronavirus PPP Loans

GLOUCESTER TOWNSHIP, NJ — Forty-nine Gloucester Township 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 Gloucester Township businesses:

$5-10 million

1. A. P. CONSTRUCTION INC.
2. JPC GROUP, INC.

$2-5 million

1. RELIABLE TIRE DISTRIBUTORS

$1-2 million

1. COLD TECH, INC
2. MARYVILLE INC
3. MCCLOSKEY MECHANICAL CONTRACTORS INC
4. MK FIRE PROTECTION & SUPPLY
5. ROCCO'S COLLISION CENTER INCORPORATED
6. ZANGER ENTERPRISES, INC.

$350,000-1 million

1. CCJ SANCTUARY, LLC
2. CUSTOM CABLE SOLUTIONS
3. ENGINE DISTRIBUTORS INC.
4. GOLDEN EAGLE CLEANING SERVICES INC
5. MCGOUGH BUS COMPANY, INC
6. MOPPERT BROTHERS OF SOUTH JERSEY
7. NIAGARA LIVING LLC
8. OUR LADY OF HOPE PARISH
9. R. M. NIZZARDI, INC.
10. RAHN COMPANIES INC
11. RENAISSANCE MARBLE AND GRANITE CORPORATION
12. REVEL NAIL LLC
13. TRIANGLE TUBE/PHASE III CO. INC.
14. VISION SOLAR LLC

$150,000-350,000

1. ADVANCED BUILDING SUPPLIES INC.
2. APC SERVICES LLC
3. ASHMORE PARTNERS LLC
4. BLACKWOOD ANIMAL HOSPITAL
5. BMP MECHANICAL, LLC
6. BRIDGEWATER CLEANING GROUP CORP MAIDS CLUB
7. CELTIC CROSSING, INC
8. DREAMS UNLIMITED INC
9. ERIAL CONCRETE INC
10. GCE MARKET, INC.
11. HOMEWARD BOUND PET ADOPTION CENTER , INC
12. HORIZON AV, LLC
13. INSTANT AIR LLC
14. KIDDIE JUNCTION TWO LLC
15. L & G SERVICES OF NJ, INC-SBA SMALL 7A TERM
16. MARKSMEN LANDSCAPING LLC-SBA SMALL 7A TERM
17. MIGALI INDUSTRIES INC.
18. MOCHILA FULFILLMENT LLC
19. NEW MEADOWS DINER
20. PHILLY FUDD CORP
21. REGGIES INC
22. RONALD L DAMORE DDS
23. SENTRY REFRIGERATION
24. SONYA STAFFING INC-SBA SMALL 7A TERM
25. SOUTH JERSEY ELEVATOR, LLC
26. WM MORTGAGEWARE LLC

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