PPP Loan Data — Four Way Fuels Inc, Irving, TX
Four Way Fuels Inc is a corporation located at 820 S Beltline Rd in Irving, Texas that received a Coronavirus-related PPP loan from the SBA of $25,062.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Four Way Fuels Inc in Irving, TX received a Paycheck Protection Loan of $25,062 through Spectra Bank, which was approved in April, 2020.
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
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, Four Way Fuels Inc's 2019 payroll expenses are estimated to be at least $120,298.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,060 per employee1
Reported PPP Proceed Usage:
On the PPP application, Four Way Fuels Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,062
Business Information - Four Way Fuels Inc in Irving, TX
820 S Beltline Rd
Irving, TX 75060
Gasoline Stations with Convenience Stores
NAICS code 447110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Irving
In the Irving area, 24 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 5) and received an average PPP loan of $41,015 (compared to this company's $25,062).
Similar Nearby Businesses Who Received PPP Funding:
R & R Saini Inc
A&Z Irving Investments Inc
NNS Group Inc
Lucky Texan #1 LLC
Tallender Group LLC
Industry PPP Comparison Statistics
Nationwide, 45,026 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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 10 employees, 100% higher than Four Way Fuels Inc's reported 5 employees, and received an average PPP loan of $45,821, 83% higher than this company's loan of $25,062.
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Footnotes & Information
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