PPP Loan Data — GMA Garnet (USA) Corp, Spring, TX
GMA Garnet (USA) Corp
Location: Spring, TXTweet This • Search All PPP Data
GMA Garnet (USA) Corp is a corporation located at 1780 Hughes Landing Blvd in Spring, Texas that received a Coronavirus-related PPP loan from the SBA of $1,650,900.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 96 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of Montana
GMA Garnet (USA) Corp in Spring, TX received a Paycheck Protection Loan of $1.65M through Bank of Montana, 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, GMA Garnet (USA) Corp's 2019 payroll expenses are estimated to be at least $7.92M.
Based on their reported 96 jobs retained, this equals an estimated average yearly compensation of $82,545 per employee1
Reported PPP Proceed Usage:
On the PPP application, GMA Garnet (USA) Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,650,900
Business Information - GMA Garnet (USA) Corp in Spring, TX
1780 Hughes Landing Blvd
Spring, TX 77380
Metal Service Centers and Other Metal Merchant Wholesalers
NAICS code 423510
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Spring
In the Spring area, 4 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 96) and received an average PPP loan of $453,965 (compared to this company's $1.65M).
Similar Nearby Businesses Who Received PPP Funding:
GMR Gold Inc
Pro Piping & Equipment Inc
The Woodlands, TX
Daniel International Steel, Inc
The Woodlands, TX
Industry PPP Comparison Statistics
Nationwide, 4,182 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a total of $967.29M 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 19 employees, 80% lower than GMA Garnet (USA) Corp's reported 96 employees, and received an average PPP loan of $231,298, 86% lower than this company's loan of $1.65M.
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