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PPP Loan Data — AMG Technology Investment Group, LLC, Hudson Oaks, TX

SBA PPP loan data, payroll data, and salaries for AMG Technology Investment Group, LLC
TX

AMG Technology Investment Group, LLC

Entity: Limited Liability Company (LLC)

Industry:

Location: Hudson Oaks, TX

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AMG Technology Investment Group, LLC is a limited liability company (LLC) located at 95 Parker Oaks Ln in Hudson Oaks, Texas that received a Coronavirus-related PPP loan from the SBA of $3,284,000.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 404 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6838047007

Loan Size:

$3.28M

Jobs Retained:

404

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

First State Bank

AMG Technology Investment Group, LLC in Hudson Oaks, TX received a Paycheck Protection Loan of $3.28M through First State 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 July, 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, AMG Technology Investment Group, LLC's 2019 payroll expenses are estimated to be at least $15.76M.

Based on their reported 404 jobs retained, this equals an estimated average yearly compensation of $39,018 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $3,164,000
  • Utilities: $20,000
  • Rent: $100,000
Because the loan received by AMG Technology Investment 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 - AMG Technology Investment Group, LLC in Hudson Oaks, TX

AMG Technology Investment Group, LLC
95 Parker Oaks Ln
Hudson Oaks, TX 76087

Business Industry:

NAICS code

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Parker County, TX — SBA Office 0610 — Congressional District: TX-12

Industry PPP Comparison Statistics

Nationwide, 132,342 businesses in the "" industry received a total of $5.86B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 13 employees, 97% lower than AMG Technology Investment Group, LLC's reported 404 employees, and received an average PPP loan of $44,250, 99% lower than this company's loan of $3.28M.

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.

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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/amg-technology-investment-group-llc-hudson-oaks-tx