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PPP Loan Data — Hitch Enterprises Inc, Guymon, OK

SBA PPP loan data, payroll data, and salaries for Hitch Enterprises Inc
OK

Hitch Enterprises Inc

Entity: Corporation

Industry: Beef Cattle Ranching and Farming

Location: Guymon, OK

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Hitch Enterprises Inc is a corporation located at 309 Northridge Circle in Guymon, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $3,335,900.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 288 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.34M

Jobs Retained:

288

Loan Approved:

2020-04-08

Lender:

INTERBANK

Hitch Enterprises Inc received a Paycheck Protection Loan of $3.34M through INTERBANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Hitch Enterprises Inc's total 2019 payroll expenses were approximately $16.01M in order to qualify for the PPP loan amount received.

Based on their reported 288 jobs retained, this equals an estimated average yearly compensation of $55,598 per employee1.

Because the loan received by Hitch Enterprises 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 - Hitch Enterprises Inc in Guymon, OK

Hitch Enterprises Inc
309 Northridge Circle
Guymon, OK 73942

Business Industry

Beef Cattle Ranching and Farming (NAICS code 112111)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: OK-03

Similar Companies near Guymon

In the Guymon area, 10 businesses in the "Beef Cattle Ranching and Farming" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 288) and received an average PPP loan of $347,425 (compared to this company's $3.34M).

Industry PPP Comparison Statistics

Nationwide, 14,148 businesses in the "Beef Cattle Ranching and Farming" industry received a total of $326,239,874.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 3 employees, 99% lower than Hitch Enterprises Inc's reported 288 employees, and received an average PPP loan of $23,059, 99% lower than this company's loan of $3.34M.

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.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/hitch-enterprises-inc-guymon-ok