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PPP Loan Data — Heart Of Texas Pizza, LP, Wichita, KS

SBA PPP loan data, payroll data, and salaries for Heart Of Texas Pizza, LP

FRANCHISE

KS

Heart Of Texas Pizza, LP

Entity: Limited Liability Partnership

Industry: Limited-Service Restaurants

Franchise: Freddy's Frozen Custard & Steakburgers

Location: Wichita, KS

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Heart Of Texas Pizza, LP is a limited liability partnership located at 7700 E Polo Dr in Wichita, Kansas that received a Coronavirus-related PPP loan from the SBA of $2,607,000.00 in April, 2020. This business is a Freddy's Frozen Custard & Steakburgers franchise.

The company has reported itself as a White male owned business, and employed at least 250 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4933247007

Loan Size:

$2.61M

Jobs Retained:

250

Loan Approved:

2020-04-04

Loan Status:

Ongoing Loan

Lender:

INTRUST Bank, National Association

Heart Of Texas Pizza, LP in Wichita, KS received a Paycheck Protection Loan of $2.61M through INTRUST 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, Heart Of Texas Pizza, LP's 2019 payroll expenses are estimated to be at least $12.51M.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $50,054 per employee1

Reported PPP Proceed Usage:

On the PPP application, Heart Of Texas Pizza, LP reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,607,000
Because the loan received by Heart Of Texas Pizza, LP 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 - Heart Of Texas Pizza, LP in Wichita, KS

Heart Of Texas Pizza, LP
7700 E Polo Dr
Wichita, KS 67206

Business Industry:
Limited-Service Restaurants
NAICS code 722513

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

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

Sedgwick County, KS — SBA Office 0767 — Congressional District: KS-04

Similar Companies near Wichita

In the Wichita area, 50 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 250) and received an average PPP loan of $550,942 (compared to this company's $2.61M).

Industry PPP Comparison Statistics

Nationwide, 230,096 businesses in the "Limited-Service Restaurants" industry received a total of $17.57B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 17 employees, 93% lower than Heart Of Texas Pizza, LP's reported 250 employees, and received an average PPP loan of $76,359, 97% lower than this company's loan of $2.61M.

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/heart-of-texas-pizza-lp-wichita-ks