PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Initial Outfitters Inc, Auburn, AL

ALERT: There are 2 PPP loans for a total of $343,533 in our database for businesses with the name "Initial Outfitters Inc" in Auburn, AL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Initial Outfitters Inc
AL

Initial Outfitters Inc

Entity: Subchapter S Corporation

Industry: Electronic Shopping and Mail-Order Houses

Location: Auburn, AL

Search All PPP Data

Initial Outfitters Inc is a subchapter s corporation located at 3325 in Auburn, Alabama that received a Coronavirus-related PPP loan from the SBA of $134,433.00 in January, 2021.

The company has reported itself as a White female owned business, and employed at least 29 people during the applicable loan loan period.

$ PPP Loan Information
Loan #5971868301

Loan Size:

$134,433

Jobs Retained:

29

Loan Approved:

2021-01-26

Loan Status:

Paid in Full or Forgiven

Lender:

Itria Ventures LLC

Initial Outfitters Inc in Auburn, AL received a Paycheck Protection Loan of $134,433 through Itria Ventures LLC, which was approved in January, 2021.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Initial Outfitters Inc's 2019 payroll expenses are estimated to be at least $645,278.

Based on their reported 29 jobs retained, this equals an estimated average yearly compensation of $22,251 per employee1

Reported PPP Proceed Usage:

On the PPP application, Initial Outfitters Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $134,431
  • Utilities: $1

Business Information - Initial Outfitters Inc in Auburn, AL

Initial Outfitters Inc
3325
Auburn, AL 36830

Business Industry:
Electronic Shopping and Mail-Order Houses
NAICS code 454110

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Lee County, AL — SBA Office 0459 — Congressional District: AL-03

Similar Companies near Auburn

In the Auburn area, 7 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 29) and received an average PPP loan of $350,598 (compared to this company's $134,433).

Industry PPP Comparison Statistics

Nationwide, 21,857 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a total of $938.55M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 4 employees, 86% lower than Initial Outfitters Inc's reported 29 employees, and received an average PPP loan of $42,941, 68% lower than this company's loan of $134,433.

SBA PPP loan data, payroll data, and salaries for Initial Outfitters Inc
AL

Initial Outfitters Inc

Entity: Subchapter S Corporation

Industry: Electronic Shopping and Mail-Order Houses

Location: Auburn, AL

Search All PPP Data

Initial Outfitters Inc is a subchapter s corporation located at 3325 Skyway Drive in Auburn, Alabama that received a Coronavirus-related PPP loan from the SBA of $209,100.00 in June, 2020.

The company has reported itself as a White female owned business, and employed at least 22 people during the applicable loan loan period.

$ PPP Loan Information
Loan #5391477909

Loan Size:

$209,100

Jobs Retained:

22

Loan Approved:

2020-06-15

Loan Status:

Paid in Full or Forgiven

Lender:

Celtic Bank Corporation

Initial Outfitters Inc in Auburn, AL received a Paycheck Protection Loan of $209,100 through Celtic Bank Corporation, which was approved in June, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Initial Outfitters Inc's 2019 payroll expenses are estimated to be at least $1M.

Based on their reported 22 jobs retained, this equals an estimated average yearly compensation of $45,622 per employee1

Reported PPP Proceed Usage:

On the PPP application, Initial Outfitters Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $209,100

Business Information - Initial Outfitters Inc in Auburn, AL

Initial Outfitters Inc
3325 Skyway Drive
Auburn, AL 36830

Business Industry:
Electronic Shopping and Mail-Order Houses
NAICS code 454110

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Lee County, AL — SBA Office 0459 — Congressional District: AL-03

Similar Companies near Auburn

In the Auburn area, 7 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 22) and received an average PPP loan of $350,598 (compared to this company's $209,100).

Industry PPP Comparison Statistics

Nationwide, 21,857 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a total of $938.55M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 4 employees, 82% lower than Initial Outfitters Inc's reported 22 employees, and received an average PPP loan of $42,941, 79% lower than this company's loan of $209,100.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/initial-outfitters-inc-auburn-al