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PPP Loan Data — Precision Textiles LLC, Totowa, NJ

SBA PPP loan data, payroll data, and salaries for Precision Textiles LLC
NJ

Precision Textiles LLC

Entity: Limited Liability Company (LLC)

Industry: Fabric Coating Mills

Location: Totowa, NJ

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Precision Textiles LLC is a limited liability company (LLC) located at 200 Maltese Dr in Totowa, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,506,890.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.51M

Jobs Retained:

191

Loan Approved:

2020-04-15

Lender:

ONEWEST BANK, A DIVISION OF

Precision Textiles LLC in Totowa, NJ received a Paycheck Protection Loan of $2.51M through ONEWEST BANK, A DIVISION OF, which was approved in April, 2020.

Based on standard PPP eligibility rules, Precision Textiles LLC's total 2019 payroll expenses were approximately $12.03M in order to qualify for the PPP loan amount received.

Based on their reported 191 jobs retained, this equals an estimated average yearly compensation of $63,000 per employee1.

Because the loan received by Precision Textiles 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 - Precision Textiles LLC in Totowa, NJ

Precision Textiles LLC
200 Maltese Dr
Totowa, NJ 07512

Business Industry

Fabric Coating Mills (NAICS code 313320)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NJ-11

Similar Companies near Totowa

In the Totowa area, 2 businesses in the "Fabric Coating Mills" industry received a PPP loan. These local businesses reported an average of 101 employees (compared to this company's 191) and received an average PPP loan of $1,308,564 (compared to this company's $2.51M).

Similar Nearby Businesses Who Received PPP Funding:

Custom Laminations, Inc.
Paterson, NJ

$110,237 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 119 businesses in the "Fabric Coating Mills" industry received a total of $42,497,205.00 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 25 employees, 87% lower than Precision Textiles LLC's reported 191 employees, and received an average PPP loan of $357,119, 86% lower than this company's loan of $2.51M.

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.

Search FederalPay's Full PPP Loan Database

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.


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Source: www.federalpay.org/paycheck-protection-program/precision-textiles-llc-totowa-nj