PPP Loan Data — Colt Services, LP, La Porte, TX
Colt Services, LP is a partnership located at 626 N 16th Street in La Porte, Texas that received a Coronavirus-related PPP loan from the SBA of $1,955,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Third Coast Bank SSB
Colt Services, LP in La Porte, TX received a Paycheck Protection Loan of $1.96M through Third Coast Bank SSB, which was approved in April, 2020.
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, Colt Services, LP's 2019 payroll expenses are estimated to be at least $9.39M.
Based on their reported 153 jobs retained, this equals an estimated average yearly compensation of $61,346 per employee1
Reported PPP Proceed Usage:
On the PPP application, Colt Services, LP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,955,400
Business Information - Colt Services, LP in La Porte, TX
626 N 16th Street
La Porte, TX 77572
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near La Porte
In the La Porte area, 3 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 153) and received an average PPP loan of $724,567 (compared to this company's $1.96M).
Similar Nearby Businesses Who Received PPP Funding:
Compass Equipment Rental, LLC
La Porte, TX
Colt Services General Holdings, LLC
La Porte, TX
Industry PPP Comparison Statistics
Nationwide, 30,927 businesses in the "Site Preparation Contractors" industry received a total of $4.31B 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 12 employees, 92% lower than Colt Services, LP's reported 153 employees, and received an average PPP loan of $139,293, 93% lower than this company's loan of $1.96M.
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Footnotes & Information
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