47 Lawrenceville Businesses Receive Coronavirus PPP Loans

LAWRENCEVILLE, NJ — Forty-seven Lawrenceville 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 Lawrenceville businesses:

$5-10 million

1. JOSEPH JINGOLI & SON, INC.

$2-5 million

1. ARORA AND ASSOCIATES, P.C.
2. MULLER AUTOMOTIVE INC

$1-2 million

1. CAPITOL COUNTY CHILDREN'S COLLABORATIVE
2. CARE FOR U PLUS LLC
3. COLEMAN BUICK GMC CADILLAC INC
4. JET ELECTRICAL TESTING, LLC
5. NEW JERSEY CONFERENCE OF SEVENTH-DAY ADV

$350,000-1 million

1. ASANA BIOSCIENCES, LLC
2. BIRCHFIELD VENTURES LLC
3. CELSION CORPORATION
4. DELAWARE VALLEY PEDIATRIC ASSOICATES
5. FUSION EMPLOYER SERVICES, LLC.
6. GLOBAL NEUROSCIENCES INSTITUTE, LLC
7. ITI TROPICALS INC.
8. JDC ENERGY SERVICES, LLC
9. JPOW CALIFORNIA, LLC
10. LAWRENCE AUTOMOTIVE, INC.
11. LAWRENCEVILLE NEUROLOGY CENTER PA
12. LMT-HARTVILLE INC
13. LONG MOTORS COMPANY INC
14. MCNEILL PROPERTIES V, LLC-SBA SMALL 7A TERM
15. MDADVANTAGE INSURANCE COMPANY OF NJ
16. OPTIMA GLOBAL SOLUTIONS, INC.
17. SPECIAL OLYMPICS NEW JERSEY INC
18. THE BRIDGE ACADEMY, INC.

$150,000-350,000

1. ARBORSYS GROUP LLC
2. DELAWARE VALLEY RETINA ASSOCIATES
3. GREENLEAF PAINTERS LLC
4. HINKLE PRIOR & FISCHER PC
5. INSTITUTE FOR SPINE & SCOLIOSIS, PA
6. LAURA LONGMAN
7. LAWRENCE MOLD AND TOOL CORP
8. LAWRENCEVILLE DENTAL IMPLANT CENTER AND PERIODONTICS LLC
9. LIFEBACK, LLC
10. MERCER CHILDREN'S DENTISTRY, PC
11. MERCER COUNCIL ON ALCOHOLISM AND DRUG ADDICTION
12. MERCER EYE ASSOCIATES, P.A.
13. NDVOR SOLUTIONS LLC
14. OUR LITTLE HILL LLC
15. PERFORMANCE SPINE & SPORTS MEDICINE COMP
16. PERIOPERATIVE MEDICINE &
17. PRINCETON DENTAL GROUP
18. PRINCETON PAIN & SPINE INSTITUTE PC
19. R-PHARM US LLC
20. STEVEN FRIEDMAN
21. UNITED WAY OF GREATER MERCER COUNTY, INC.

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