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PPP Loan Data — Green Cover Energy LLC,
Port Arthur, TX
Green Cover Energy LLC
Entity: Limited Liability Company (LLC)
Industry: All Other Specialty Trade Contractors
Location: Port Arthur, TX
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Green Cover Energy LLC is a limited liability company (LLC) located at 835 Houston Ave in Port Arthur, Texas that received a Coronavirus-related PPP loan from the SBA of $55,200.00 in May, 2021.
The company has reported itself as a male owned business, and employed at least fifteen people during the applicable loan loan period.
$
PPP Loan Information
Loan #8229439002
Loan Size:
Jobs Retained:
15Loan Approved:
2021-05-27Loan Status:
Paid in Full or ForgivenLender:
Unity National Bank of HoustonGreen Cover Energy LLC in Port Arthur, TX received a Paycheck Protection Loan of $55,200 through Unity National Bank of Houston, which was approved in May, 2021.
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 February, 2022.
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, Green Cover Energy LLC's 2019 payroll expenses are estimated to be at least $264,960.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $17,664 per employee1
Reported PPP Proceed Usage:
On the PPP application, Green Cover Energy LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $55,196
- Utilities: $1
Business Information - Green Cover Energy LLC in Port Arthur, TX
835 Houston Ave
Port Arthur, TX 77640
Business Industry:
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
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
Similar Companies near Port Arthur
In the Port Arthur area, 11 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 15) and received an average PPP loan of $521,888 (compared to this company's $55,200).
Similar Nearby Businesses Who Received PPP Funding:
James & Luther, Inc
Port Arthur, TX
Orbital Insulation Corp
Port Arthur, TX
Trevor Cormier
Port Arthur, TX
Ron Rawls
Port Arthur, TX
Coastal Industrial Services Inc
Port Arthur, TX
Ktmc Insulation & Scaffolding, LLC
Port Arthur, TX
Craig Young Jr
Port Arthur, TX
Industrial Scaffolding, LLC
Port Arthur, TX
Industry PPP Comparison Statistics
Nationwide, 92,270 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.02B 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 8 employees, 47% lower than Green Cover Energy LLC's reported 15 employees, and received an average PPP loan of $86,936, 57% higher than this company's loan of $55,200.
Green Cover Energy LLC
Entity: Limited Liability Company (LLC)
Industry: Drywall and Insulation Contractors
Location: Port Arthur, TX
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Green Cover Energy LLC is a limited liability company (LLC) located at 835 Houston Ave in Port Arthur, Texas that received a Coronavirus-related PPP loan from the SBA of $135,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least ten people during the applicable loan loan period.
$
PPP Loan Information
Loan #2134827401
Loan Size:
Jobs Retained:
10Loan Approved:
2020-05-05Loan Status:
Paid in Full or ForgivenLender:
Third Coast Bank SSBGreen Cover Energy LLC in Port Arthur, TX received a Paycheck Protection Loan of $135,000 through Third Coast Bank SSB, which was approved in May, 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 August, 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, Green Cover Energy LLC's 2019 payroll expenses are estimated to be at least $648,000.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $64,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, Green Cover Energy LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $135,000
Business Information - Green Cover Energy LLC in Port Arthur, TX
835 Houston Ave
Port Arthur, TX 77640
Business Industry:
Drywall and Insulation Contractors
NAICS code 238310
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Port Arthur
In the Port Arthur area, 4 businesses in the "Drywall and Insulation Contractors" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 10) and received an average PPP loan of $223,468 (compared to this company's $135,000).
Similar Nearby Businesses Who Received PPP Funding:
Southeast Texas Drywall LLC
Port Arthur, TX
Orbital Insulation Corporation
Port Arthur, TX
Daniela Ayala
Port Arthur, TX
Industry PPP Comparison Statistics
Nationwide, 18,483 businesses in the "Drywall and Insulation Contractors" industry received a total of $2.42B 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 11 employees, 10% higher than Green Cover Energy LLC's reported 10 employees, and received an average PPP loan of $130,844, 3% lower than this company's loan of $135,000.
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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