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

PPP Loan Data — Outerstuff LLC, Clark, NJ

ALERT: There are 2 PPP loans for a total of $6.77M in our database for businesses with the name "Outerstuff LLC" in Clark, 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 Outerstuff LLC
NJ

Outerstuff LLC

Entity: Limited Liability Company (LLC)

Industry: Other Cut and Sew Apparel Manufacturing

Location: Clark, NJ

Search All PPP Data

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:

$2M

Jobs Retained:

191

Loan Approved:

2021-01-29

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

Outerstuff 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 has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, 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
Because the loan received by Outerstuff LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Outerstuff LLC in Clark, NJ

Outerstuff LLC
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

Union County, NJ — SBA Office 0299 — Congressional District: NJ-07

Industry PPP Comparison Statistics

Nationwide, 1,770 businesses in the "Other Cut and Sew Apparel Manufacturing" industry received a total of $176.89M 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 13 employees, 93% lower than Outerstuff LLC's reported 191 employees, and received an average PPP loan of $99,936, 95% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Outerstuff LLC
NJ

Outerstuff LLC

Entity: Limited Liability Company (LLC)

Industry: Other Cut and Sew Apparel Manufacturing

Location: Clark, NJ

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:

$4.77M

Jobs Retained:

269

Loan Approved:

2020-04-11

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

Outerstuff 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 has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, 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
Because the loan received by Outerstuff LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Outerstuff LLC in Clark, NJ

Outerstuff LLC
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

Union County, NJ — SBA Office 0299 — Congressional District: NJ-07

Industry PPP Comparison Statistics

Nationwide, 1,770 businesses in the "Other Cut and Sew Apparel Manufacturing" industry received a total of $176.89M 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 13 employees, 95% lower than Outerstuff LLC's reported 269 employees, and received an average PPP loan of $99,936, 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.

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/outerstuff-llc-clark-nj