These Woodbridge Businesses Received Coronavirus PPP Loans

WOODBRIDGE, NJ — This week, the U.S. Small Business Administration and U.S. Treasury released details of the country's massive Paycheck Protection Program (PPP), which helped thousands, if not millions, of U.S. businesses affected by the coronavirus pandemic.

Hundreds of businesses in Woodbridge, Avenel and Iselin are on the list, many of them manufacturing, shipping, food service and professional firms located in the area.

There are some familiar names: Vito Mazza hair salon, Main Street Realty, Rt. 1 Jeep, Woodbridge Auto Sales, Sansone Motors and Saint James Catholic Church all received loans. Even the Woodbridge Twp. Ambulance and Rescue Squad, a non-profit, received an unspecified PPP loan of between $150,000 and $350,000.

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Some very well-known New Jersey businesses received millions in PPE loans: 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.

In total, around 22,000 businesses, non-profits and even private schools in New Jersey were approved for loans greater than $150,000.

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.

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.