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PPP Loan Data — Cinergy Entertainment Group Inc,
Dallas, TX
Cinergy Entertainment Group Inc
Entity: Corporation
Industry: Full-Service Restaurants
Location: Dallas, TX
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Cinergy Entertainment Group Inc is a corporation located at 5720 Lyndon B Johnson Fwy Ste 625 in Dallas, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2021.
The company has reported itself as a White female owned business, and employed at least 328 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9028268807
Loan Size:
Jobs Retained:
328Loan Approved:
2021-04-23Loan Status:
Ongoing LoanLender:
Truist Bank d/b/a Branch Banking & Trust CoCinergy Entertainment Group Inc in Dallas, TX received a Paycheck Protection Loan of $2M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 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 MoreUnderstanding 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 MoreBased 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, Cinergy Entertainment Group Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 328 jobs retained, this equals an estimated average yearly compensation of $29,268 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cinergy Entertainment Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Cinergy Entertainment Group Inc in Dallas, TX
5720 Lyndon B Johnson Fwy Ste 625
Dallas, TX 75240
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Cinergy Entertainment Group Inc.
Independent Cinema Alliance
Theater Companies and Dinner Theaters
Similar Companies near Dallas
In the Dallas area, 47 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 97 employees (compared to this company's 328) and received an average PPP loan of $764,658 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
LIP Smacking Inc
Dallas, TX
Charleen Dowell
Dallas, TX
Apple Texas Restaurants Inc
Dallas, TX
Campi #7, Inc
Dallas, TX
Secret Chef, LLC
Dallas, TX
Athr Management Company LLC
Dallas, TX
Legend 94 Hospitality LLC
Dallas, TX
Commissary Hall LLC
Dallas, TX
Industry PPP Comparison Statistics
Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 93% lower than Cinergy Entertainment Group Inc's reported 328 employees, and received an average PPP loan of $130,209, 93% lower than this company's loan of $2M.
Cinergy Entertainment Group, Inc
Entity: Corporation
Industry: Offices of Other Holding Companies
Location: Dallas, TX
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Cinergy Entertainment Group, Inc is a corporation located at 5720 Lyndon B Johnson Fwy in Dallas, Texas that received a Coronavirus-related PPP loan from the SBA of $3,420,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.
$
PPP Loan Information
Loan #6851157010
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-07Loan Status:
Paid in Full or ForgivenLender:
Truist Bank d/b/a Branch Banking & Trust CoCinergy Entertainment Group, Inc in Dallas, TX received a Paycheck Protection Loan of $3.42M through Truist Bank d/b/a Branch Banking & Trust Co, 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 October, 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 MoreUnderstanding 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 MoreBased 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, Cinergy Entertainment Group, Inc's 2019 payroll expenses are estimated to be at least $16.42M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $32,834 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cinergy Entertainment Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,420,200
Business Information - Cinergy Entertainment Group, Inc in Dallas, TX
5720 Lyndon B Johnson Fwy
Dallas, TX 75240
Business Industry:
Offices of Other Holding Companies
NAICS code 551112
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Cinergy Entertainment Group, Inc.
Trijet Investments, Inc
Other Activities Related to Real Estate
Similar Companies near Dallas
In the Dallas area, 15 businesses in the "Offices of Other Holding Companies" industry received a PPP loan. These local businesses reported an average of 57 employees (compared to this company's 500) and received an average PPP loan of $432,573 (compared to this company's $3.42M).
Similar Nearby Businesses Who Received PPP Funding:
Sscp Management Inc
Dallas, TX
Shlanda Ferrell
Dallas, TX
Legends Scnc Golf Holdings, LLC
Dallas, TX
Deshon Washington
Dallas, TX
Firearms Legal Protection Holdings, LLC
Dallas, TX
Lisa B. Rosenthal
Dallas, TX
RTC Retail Holdings, LLC
Dallas, TX
Rtc2016 Partners, LLC
Dallas, TX
Industry PPP Comparison Statistics
Nationwide, 12,406 businesses in the "Offices of Other Holding Companies" industry received a total of $1.56B 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, 97% lower than Cinergy Entertainment Group, Inc's reported 500 employees, and received an average PPP loan of $125,465, 96% lower than this company's loan of $3.42M.
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.
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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