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PPP Loan Data — Gulf Winds International, Inc, Deer Park, TX

SBA PPP loan data, payroll data, and salaries for Gulf Winds International, Inc
TX

Gulf Winds International, Inc

Entity: Corporation

Industry: General Freight Trucking, Long-Distance, Truckload

Location: Deer Park, TX

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Gulf Winds International, Inc is a corporation located at 4400 Highway 225 Suite 230 in Deer Park, Texas that received a Coronavirus-related PPP loan from the SBA of $2,646,000.00 in April, 2020.

$ PPP Loan Information
Loan #6632147007

Loan Size:

$2.65M

Jobs Retained:

200

Loan Approved:

2020-04-07

Loan Status:

Ongoing Loan

Lender:

Cadence Bank, National Association

Gulf Winds International, Inc in Deer Park, TX received a Paycheck Protection Loan of $2.65M through Cadence Bank, National Association, 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 More
Understanding 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 More

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, Gulf Winds International, Inc's 2019 payroll expenses are estimated to be at least $12.7M.

Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $63,504 per employee1

Reported PPP Proceed Usage:

On the PPP application, Gulf Winds International, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,646,000
Because the loan received by Gulf Winds International, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Gulf Winds International, Inc in Deer Park, TX

Gulf Winds International, Inc
4400 Highway 225 Suite 230
Deer Park, TX 77536

Business Industry:
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Harris County, TX — SBA Office 0671 — Congressional District: TX-36

Similar Companies near Deer Park

In the Deer Park area, 12 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 200) and received an average PPP loan of $363,443 (compared to this company's $2.65M).

Industry PPP Comparison Statistics

Nationwide, 67,342 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $3.7B 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 5 employees, 98% lower than Gulf Winds International, Inc's reported 200 employees, and received an average PPP loan of $55,017, 98% lower than this company's loan of $2.65M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/gulf-winds-international-inc-deer-park-tx