PPP Loan Data — Hughes Anderson Heat Exchangers, Inc, Tulsa, OK
Hughes Anderson Heat Exchangers, Inc is a corporation located at 1001 North Fulton Avenue in Tulsa, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $1,834,175.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 134 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:American Bank and Trust Company
Hughes Anderson Heat Exchangers, Inc in Tulsa, OK received a Paycheck Protection Loan of $1.83M through American Bank and Trust Company, which was approved in April, 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 December, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Hughes Anderson Heat Exchangers, Inc's 2019 payroll expenses are estimated to be at least $8.8M.
Based on their reported 134 jobs retained, this equals an estimated average yearly compensation of $65,702 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hughes Anderson Heat Exchangers, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,834,175
Business Information - Hughes Anderson Heat Exchangers, Inc in Tulsa, OK
1001 North Fulton Avenue
Tulsa, OK 74115
Power Boiler and Heat Exchanger Manufacturing
NAICS code 332410
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Tulsa
In the Tulsa area, 4 businesses in the "Power Boiler and Heat Exchanger Manufacturing" industry received a PPP loan. These local businesses reported an average of 99 employees (compared to this company's 134) and received an average PPP loan of $1,835,819 (compared to this company's $1.83M).
Similar Nearby Businesses Who Received PPP Funding:
Energy Exchanger Company
Heat Transfer Equipment Company
Industry PPP Comparison Statistics
Nationwide, 319 businesses in the "Power Boiler and Heat Exchanger Manufacturing" industry received a total of $173.77M 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 38 employees, 72% lower than Hughes Anderson Heat Exchangers, Inc's reported 134 employees, and received an average PPP loan of $544,731, 70% lower than this company's loan of $1.83M.
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Footnotes & Information
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