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PPP Loan Data — Outerstuff LLC,
Clark, NJ
Outerstuff LLC
Entity: Limited Liability Company (LLC)
Industry: Other Cut and Sew Apparel Manufacturing
Location: Clark, NJ
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Outerstuff LLC is a limited liability company (LLC) located at 60 Walnut Ave Ste 100 in Clark, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
$
PPP Loan Information
Loan #8471148305
Loan Size:
Jobs Retained:
191Loan Approved:
2021-01-29Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationOuterstuff LLC in Clark, NJ received a Paycheck Protection Loan of $2M through JPMorgan Chase Bank, National Association, 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 April, 2022.
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 MoreUnderstanding 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 MoreBased 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, Outerstuff LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 191 jobs retained, this equals an estimated average yearly compensation of $50,262 per employee1
Reported PPP Proceed Usage:
On the PPP application, Outerstuff LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Outerstuff LLC in Clark, NJ
60 Walnut Ave Ste 100
Clark, NJ 7066
Business Industry:
Other Cut and Sew Apparel Manufacturing
NAICS code 315280
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
Industry PPP Comparison Statistics
Nationwide, 1,881 businesses in the "Other Cut and Sew Apparel Manufacturing" industry received a total of $185.02M 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 12 employees, 94% lower than Outerstuff LLC's reported 191 employees, and received an average PPP loan of $98,365, 95% lower than this company's loan of $2M.
Outerstuff LLC
Entity: Limited Liability Company (LLC)
Industry: Other Cut and Sew Apparel Manufacturing
Location: Clark, NJ
Tweet This
•
Search All PPP Data
Outerstuff LLC is a limited liability company (LLC) located at 60 Walnut Avenue Suite 100 0.0 in Clark, New Jersey that received a Coronavirus-related PPP loan from the SBA of $4,773,895.00 in April, 2020.
$
PPP Loan Information
Loan #3102947108
Loan Size:
Jobs Retained:
269Loan Approved:
2020-04-11Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationOuterstuff LLC in Clark, NJ received a Paycheck Protection Loan of $4.77M through JPMorgan Chase Bank, National Association, 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 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 MoreUnderstanding 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 MoreBased 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, Outerstuff LLC's 2019 payroll expenses are estimated to be at least $22.91M.
Based on their reported 269 jobs retained, this equals an estimated average yearly compensation of $85,185 per employee1
Reported PPP Proceed Usage:
On the PPP application, Outerstuff LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,249,198
- Rent: $514,317
- Health Care: $433,380
- Debt Interest: $1,577,000
Business Information - Outerstuff LLC in Clark, NJ
60 Walnut Avenue Suite 100 0.0
Clark, NJ 7066
Business Industry:
Other Cut and Sew Apparel Manufacturing
NAICS code 315280
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
Industry PPP Comparison Statistics
Nationwide, 1,881 businesses in the "Other Cut and Sew Apparel Manufacturing" industry received a total of $185.02M 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 12 employees, 96% lower than Outerstuff LLC's reported 269 employees, and received an average PPP loan of $98,365, 98% lower than this company's loan of $4.77M.
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.
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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