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PPP Loan Data — Hawk Valve Inc, Houston, TX

SBA PPP loan data, payroll data, and salaries for Hawk Valve Inc
TX

Hawk Valve Inc

Entity: Subchapter S Corporation

Industry: Industrial Supplies Merchant Wholesalers

Location: Houston, TX

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Hawk Valve Inc is a subchapter s corporation located at 9101 Jameel Rd Ste 110 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $109,382.00 in March, 2021.

The company has reported itself as a White female owned business, and employed at least five people during the applicable loan loan period.

$ PPP Loan Information
Loan #2573108602

Loan Size:

$109,382

Jobs Retained:

5

Loan Approved:

2021-03-15

Loan Status:

Active Un-Disbursed

Lender:

Transportation Alliance Bank, Inc. d/b/a TAB Bank, Inc.
Likely Employment Reduction3 PPP Funds Undisbursed

Hawk Valve Inc in Houston, TX received a Paycheck Protection Loan of $109,382 through Transportation Alliance Bank, Inc. d/b/a TAB Bank, Inc., which was approved in March, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $109,382 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 2021.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 5 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 5. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

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, Hawk Valve Inc's 2019 payroll expenses are estimated to be at least $525,034 (not accounting for salary amounts > $100k).

Because the 5 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Hawk Valve Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $109,378
  • Utilities: $1

Business Information - Hawk Valve Inc in Houston, TX

Hawk Valve Inc
9101 Jameel Rd Ste 110
Houston, TX 77040

Business Industry:
Industrial Supplies Merchant Wholesalers
NAICS code 423840

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Harris County, TX — SBA Office 0671 — Congressional District: TX-18

Similar Companies near Houston

In the Houston area, 22 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 5) and received an average PPP loan of $574,696 (compared to this company's $109,382).

Industry PPP Comparison Statistics

Nationwide, 6,027 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $1.01B 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 14 employees, 180% higher than Hawk Valve Inc's reported 5 employees, and received an average PPP loan of $167,099, 53% higher than this company's loan of $109,382.

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.

3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.


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Source: www.federalpay.org/paycheck-protection-program/hawk-valve-inc-houston-tx