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PPP Loan Data — Frontier Tank Lines Inc,
Mckinney, TX
Frontier Tank Lines Inc
Entity: Limited Liability Company (LLC)
Industry: Specialized Freight (except Used Goods) Trucking, Local
Location: Mckinney, TX
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Frontier Tank Lines Inc is a limited liability company (LLC) located at 6850 Tpc Dr Ste 200 in Mckinney, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 156 people during the applicable loan loan period.
$ PPP Loan Information Loan #4229458308
Loan Size:
Jobs Retained:
156Loan Approved:
2021-01-23Loan Status:
Ongoing LoanLender:
First United Bank and Trust CompanyFrontier Tank Lines Inc in Mckinney, TX received a Paycheck Protection Loan of $2M through First United Bank and Trust Company, which was approved in January, 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, Frontier Tank Lines Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $61,538 per employee1
Reported PPP Proceed Usage:
On the PPP application, Frontier Tank Lines Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Frontier Tank Lines Inc in Mckinney, TX
6850 Tpc Dr Ste 200
Mckinney, TX 75070
Business Industry:
Specialized Freight (except Used Goods) Trucking, Local
NAICS code 484220
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
Similar Companies near Mckinney
In the Mckinney area, 5 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 156) and received an average PPP loan of $907,327 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Frontier Tank Lines, Inc
Mckinney, TX
MKR TX Transport
Mckinney, TX
Jeremy Miller
Mckinney, TX
Quentis Jones
Mckinney, TX
Industry PPP Comparison Statistics
Nationwide, 25,630 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a total of $1,904,021,451.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 7 employees, 96% lower than Frontier Tank Lines Inc's reported 156 employees, and received an average PPP loan of $74,289, 96% lower than this company's loan of $2M.
Frontier Tank Lines, Inc
Entity: Limited Liability Company (LLC)
Industry: Specialized Freight (except Used Goods) Trucking, Local
Location: Mckinney, TX
Tweet This
•
Search All PPP Data
Frontier Tank Lines, Inc is a limited liability company (LLC) located at 6850 Tpc Dr Ste 200 in Mckinney, Texas that received a Coronavirus-related PPP loan from the SBA of $2,494,100.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 149 people during the applicable loan loan period.
$ PPP Loan Information Loan #4392407003
Loan Size:
Jobs Retained:
149Loan Approved:
2020-04-03Loan Status:
Ongoing LoanLender:
First United Bank and Trust CompanyFrontier Tank Lines, Inc in Mckinney, TX received a Paycheck Protection Loan of $2.49M through First United Bank and Trust Company, 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
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, Frontier Tank Lines, Inc's 2019 payroll expenses are estimated to be at least $11.97M.
Based on their reported 149 jobs retained, this equals an estimated average yearly compensation of $80,347 per employee1
Reported PPP Proceed Usage:
On the PPP application, Frontier Tank Lines, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,465,100
- Utilities: $10,000
- Mortgage Interest: $15,000
- Rent: $4,000
Business Information - Frontier Tank Lines, Inc in Mckinney, TX
6850 Tpc Dr Ste 200
Mckinney, TX 75070
Business Industry:
Specialized Freight (except Used Goods) Trucking, Local
NAICS code 484220
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
Similar Companies near Mckinney
In the Mckinney area, 5 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 149) and received an average PPP loan of $907,327 (compared to this company's $2.49M).
Similar Nearby Businesses Who Received PPP Funding:
Frontier Tank Lines Inc
Mckinney, TX
MKR TX Transport
Mckinney, TX
Jeremy Miller
Mckinney, TX
Quentis Jones
Mckinney, TX
Industry PPP Comparison Statistics
Nationwide, 25,630 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a total of $1,904,021,451.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 7 employees, 95% lower than Frontier Tank Lines, Inc's reported 149 employees, and received an average PPP loan of $74,289, 97% lower than this company's loan of $2.49M.
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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