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PPP Loan Data — City Gate Property Group LLC,
Dallas, TX
City Gate Property Group LLC
Entity: Limited Liability Company (LLC)
Industry: Nonresidential Property Managers
Location: Dallas, TX
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City Gate Property Group LLC is a limited liability company (LLC) located at 8111 Lyndon B Johnson Fwy in Dallas, Texas that received a Coronavirus-related PPP loan from the SBA of $3,899,600.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 442 people during the applicable loan loan period.
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PPP Loan Information
Loan #3895297102
Loan Size:
Jobs Retained:
442Loan Approved:
2020-04-12Loan Status:
Paid in Full or ForgivenLender:
Community Banks of Colorado, A Division ofCity Gate Property Group LLC in Dallas, TX received a Paycheck Protection Loan of $3.9M through Community Banks of Colorado, A Division of, 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
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, City Gate Property Group LLC's 2019 payroll expenses are estimated to be at least $18.72M.
Based on their reported 442 jobs retained, this equals an estimated average yearly compensation of $42,349 per employee1
Reported PPP Proceed Usage:
On the PPP application, City Gate Property Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,899,600
Business Information - City Gate Property Group LLC in Dallas, TX
8111 Lyndon B Johnson Fwy
Dallas, TX 75251
Business Industry:
Nonresidential Property Managers
NAICS code 531312
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There are 5 other businesses that received a PPP loan registered to the same address as City Gate Property Group LLC.
Janik Law Group PLLC
Offices of Lawyers
Barker & Company PC
Offices of Certified Public Accountants
Padez Home Health Inc
Home Health Care Services
LG Networks Inc
Electronics Stores
Pecos Construction, LLC
Commercial and Institutional Building Construction
Similar Companies near Dallas
In the Dallas area, 7 businesses in the "Nonresidential Property Managers" industry received a PPP loan. These local businesses reported an average of 75 employees (compared to this company's 442) and received an average PPP loan of $720,306 (compared to this company's $3.9M).
Similar Nearby Businesses Who Received PPP Funding:
Emersons Commercial Management Us LLC
Dallas, TX
Fobare Commercial, LP
Dallas, TX
Pacific Property Management Inc
Dallas, TX
Corporate USA Real Estate Services, Inc
Dallas, TX
Yorkshire West Realty Advisors, LP
Dallas, TX
Industry PPP Comparison Statistics
Nationwide, 11,872 businesses in the "Nonresidential Property Managers" industry received a total of $1.21B 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 9 employees, 98% lower than City Gate Property Group LLC's reported 442 employees, and received an average PPP loan of $102,068, 97% lower than this company's loan of $3.9M.
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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