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

PPP Loan Data — OPM Management LLC, Boonton, NJ

ALERT: There are 2 PPP loans for a total of $77,785 in our database for businesses with the name "OPM Management LLC" in Boonton, NJ. 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 OPM Management LLC
NJ

OPM Management LLC

Entity: Sole Proprietorship

Industry: Home Health Equipment Rental

Location: Boonton, NJ

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OPM Management LLC is a sole proprietorship located at 315 Wootton St Ste C in Boonton, New Jersey that received a Coronavirus-related PPP loan from the SBA of $38,892.00 in February, 2021.

$ PPP Loan Information
Loan #4583738410

Loan Size:

$38,892

Jobs Retained:

2

Loan Approved:

2021-02-06

Loan Status:

Paid in Full or Forgiven

Lender:

Lakeland Bank

OPM Management LLC in Boonton, NJ received a Paycheck Protection Loan of $38,892 through Lakeland Bank, which was approved in February, 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 October, 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, OPM Management LLC's 2019 payroll expenses are estimated to be at least $186,682.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $93,341 per employee1

Reported PPP Proceed Usage:

On the PPP application, OPM Management LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $38,886
  • Utilities: $1

Business Information - OPM Management LLC in Boonton, NJ

OPM Management LLC
315 Wootton St Ste C
Boonton, NJ 7005

Business Industry:
Home Health Equipment Rental
NAICS code 532283

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Morris County, NJ — SBA Office 0299 — Congressional District: NJ-11

Industry PPP Comparison Statistics

Nationwide, 905 businesses in the "Home Health Equipment Rental" industry received a total of $70.25M 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 8 employees, 300% higher than OPM Management LLC's reported 2 employees, and received an average PPP loan of $77,625, 100% higher than this company's loan of $38,892.

SBA PPP loan data, payroll data, and salaries for OPM Management LLC

FRANCHISE

NJ

OPM Management LLC

Entity: Sole Proprietorship

Industry: Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers

Franchise: 101 Mobility

Location: Boonton, NJ

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OPM Management LLC is a sole proprietorship located at 315 Wooton Street in Boonton, New Jersey that received a Coronavirus-related PPP loan from the SBA of $38,893.00 in April, 2020. This business is a 101 Mobility franchise.

$ PPP Loan Information
Loan #5687537205

Loan Size:

$38,893

Jobs Retained:

2

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

Lakeland Bank

OPM Management LLC in Boonton, NJ received a Paycheck Protection Loan of $38,893 through Lakeland Bank, which was approved in April, 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 April, 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, OPM Management LLC's 2019 payroll expenses are estimated to be at least $186,686.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $93,343 per employee1

Reported PPP Proceed Usage:

On the PPP application, OPM Management LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $38,893

Business Information - OPM Management LLC in Boonton, NJ

OPM Management LLC
315 Wooton Street
Boonton, NJ 7005

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Morris County, NJ — SBA Office 0299 — Congressional District: NJ-11

Similar Companies near Boonton

In the Boonton area, 7 businesses in the "Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 2) and received an average PPP loan of $689,819 (compared to this company's $38,893).

Industry PPP Comparison Statistics

Nationwide, 14,283 businesses in the "Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers" industry received a total of $1.42B 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 9 employees, 350% higher than OPM Management LLC's reported 2 employees, and received an average PPP loan of $99,189, 155% higher than this company's loan of $38,893.

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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Source: www.federalpay.org/paycheck-protection-program/opm-management-llc-boonton-nj