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

PPP Loan Data — Tharanco Group LLC, Secaucus, NJ

ALERT: There are 2 PPP loans for a total of $5.05M in our database for businesses with the name "Tharanco Group LLC" in Secaucus, 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 Tharanco Group LLC
NJ

Tharanco Group LLC

Entity: Limited Liability Company (LLC)

Industry: Women's, Children's, and Infants' Clothing and Accessories Merchant Wholesalers

Location: Secaucus, NJ

Search All PPP Data

Tharanco Group LLC is a limited liability company (LLC) located at 850 Paterson Plank Rd in Secaucus, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.

$ PPP Loan Information
Loan #8353448300

Loan Size:

$2M

Jobs Retained:

125

Loan Approved:

2021-01-29

Loan Status:

Ongoing Loan

Lender:

Santander Bank, National Association

Tharanco Group LLC in Secaucus, NJ received a Paycheck Protection Loan of $2M through Santander 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, Tharanco Group LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 125 jobs retained, this equals an estimated average yearly compensation of $76,800 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $1,999,997
  • Utilities: $1
Because the loan received by Tharanco Group 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 - Tharanco Group LLC in Secaucus, NJ

Tharanco Group LLC
850 Paterson Plank Rd
Secaucus, NJ 7094

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

Hudson County, NJ — SBA Office 0299 — Congressional District: NJ-09

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Tharanco Group LLC.

Tharanco Retail LLC
Men's Clothing Stores

$230,005 PPP Loan

Similar Companies near Secaucus

In the Secaucus area, 14 businesses in the "Women's, Children's, and Infants' Clothing and Accessories Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 55 employees (compared to this company's 125) and received an average PPP loan of $668,764 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 18,969 businesses in the "Women's, Children's, and Infants' Clothing and Accessories Merchant Wholesalers" industry received a total of $909.5M 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 4 employees, 97% lower than Tharanco Group LLC's reported 125 employees, and received an average PPP loan of $47,946, 98% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Tharanco Group LLC
NJ

Tharanco Group LLC

Entity: Limited Liability Company (LLC)

Industry: Men's and Boys' Clothing and Furnishings Merchant Wholesalers

Location: Secaucus, NJ

Search All PPP Data

Tharanco Group LLC is a limited liability company (LLC) located at 850 Paterson Plank Rd in Secaucus, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,052,442.00 in April, 2020.

$ PPP Loan Information
Loan #5872297109

Loan Size:

$3.05M

Jobs Retained:

205

Loan Approved:

2020-04-14

Loan Status:

Ongoing Loan

Lender:

OneWest Bank, A Division of

Tharanco Group LLC in Secaucus, NJ received a Paycheck Protection Loan of $3.05M through OneWest Bank, A Division of, 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, Tharanco Group LLC's 2019 payroll expenses are estimated to be at least $14.65M.

Based on their reported 205 jobs retained, this equals an estimated average yearly compensation of $71,472 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $2,417,442
  • Rent: $355,000
  • Health Care: $280,000
Because the loan received by Tharanco Group 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 - Tharanco Group LLC in Secaucus, NJ

Tharanco Group LLC
850 Paterson Plank Rd
Secaucus, NJ 7094

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

Hudson County, NJ — SBA Office 0299 — Congressional District: NJ-09

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Tharanco Group LLC.

Tharanco Retail LLC
Men's Clothing Stores

$230,005 PPP Loan

Similar Companies near Secaucus

In the Secaucus area, 4 businesses in the "Men's and Boys' Clothing and Furnishings Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 205) and received an average PPP loan of $807,644 (compared to this company's $3.05M).

Industry PPP Comparison Statistics

Nationwide, 7,774 businesses in the "Men's and Boys' Clothing and Furnishings Merchant Wholesalers" industry received a total of $346.89M 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 4 employees, 98% lower than Tharanco Group LLC's reported 205 employees, and received an average PPP loan of $44,622, 99% lower than this company's loan of $3.05M.

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/tharanco-group-llc-secaucus-nj