PPP Loan Data — CGT U.s. Limited, New Braunfels, TX
CGT U.s. Limited is a corporation located at 695 Holcan Dr in New Braunfels, Texas that received a Coronavirus-related PPP loan from the SBA of $2,195,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
CGT U.s. Limited in New Braunfels, TX received a Paycheck Protection Loan of $2.2M through Legacy 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 June, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, CGT U.s. Limited's 2019 payroll expenses are estimated to be at least $10.54M.
Based on their reported 184 jobs retained, this equals an estimated average yearly compensation of $57,279 per employee1
Reported PPP Proceed Usage:
On the PPP application, CGT U.s. Limited reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,195,700
Business Information - CGT U.s. Limited in New Braunfels, TX
695 Holcan Dr
New Braunfels, TX 78130
All Other Plastics Product Manufacturing
NAICS code 326199
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near New Braunfels
In the New Braunfels area, 3 businesses in the "All Other Plastics Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 144 employees (compared to this company's 184) and received an average PPP loan of $1,268,133 (compared to this company's $2.2M).
Similar Nearby Businesses Who Received PPP Funding:
Great American Products, LTD
New Braunfels, TX
Industry PPP Comparison Statistics
Nationwide, 5,013 businesses in the "All Other Plastics Product Manufacturing" industry received a total of $1.67B 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 34 employees, 82% lower than CGT U.s. Limited's reported 184 employees, and received an average PPP loan of $333,733, 85% lower than this company's loan of $2.2M.
FederalPay's PPP Information Policy
Footnotes & Information
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