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PPP Loan Data — Moda Operandi, Inc,
New York, NY
Moda Operandi, Inc
Entity: Corporation
Industry: Women's Clothing Stores
Location: New York, NY
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Moda Operandi, Inc is a corporation located at 315 Hudson St 5th Floor in New York, New York that received a Coronavirus-related PPP loan from the SBA of $7,311,300.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
349Loan Approved:
2020-04-12Lender:
COMERICA BANKModa Operandi, Inc in New York, NY received a Paycheck Protection Loan of $7.31M through COMERICA BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 349 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 351.
Based on standard PPP eligibility rules, Moda Operandi, Inc's total 2019 payroll expenses were approximately $35.09M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 349 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Moda Operandi, Inc in New York, NY
315 Hudson St 5th Floor
New York, NY 10013
Business Industry
Women's Clothing Stores (NAICS code 448120)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NY-10Similar Companies near New York
In the New York area, 51 businesses in the "Women's Clothing Stores" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 349) and received an average PPP loan of $351,286 (compared to this company's $7.31M).
Similar Nearby Businesses Who Received PPP Funding:
Soho Pioneer Apparel Inc.
New York, NY
137 Elm Fashion, LLC
New York, NY
Kirna Zabete
New York, NY
Stitch NY Inc
New York, NY
Man Repeller, LLC
New York, NY
Superfussy LLC
New York, NY
Well Stated Studios Inc.
New York, NY
Lovely Bride LLC
New York, NY
Galvan London NY LLC
New York, NY
Industry PPP Comparison Statistics
Nationwide, 10,464 businesses in the "Women's Clothing Stores" industry received a total of $410,607,563.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 98% lower than Moda Operandi, Inc's reported 349 employees, and received an average PPP loan of $39,240, 99% lower than this company's loan of $7.31M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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.
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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