PPP Loan Data — IPT Global LLC, Houston, TX
IPT Global LLC
Entity: Limited Liability Company (LLC)
Location: Houston, TXTweet This • Search All PPP Data
IPT Global LLC is a limited liability company (LLC) located at 16200 Park Row Ste 350 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $2,222,362.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:NewFirst National Bank
IPT Global LLC in Houston, TX received a Paycheck Protection Loan of $2.22M through NewFirst National Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 107. 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
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, IPT Global LLC's 2019 payroll expenses are estimated to be at least $10.67M (not accounting for salary amounts > $100k).
Because the 98 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, IPT Global LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,222,362
Business Information - IPT Global LLC in Houston, TX
16200 Park Row Ste 350
Houston, TX 77084
Oil and Gas Field Machinery and Equipment Manufacturing
NAICS code 333132
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 6 businesses in the "Oil and Gas Field Machinery and Equipment Manufacturing" industry received a PPP loan. These local businesses reported an average of 74 employees (compared to this company's 98) and received an average PPP loan of $1,269,525 (compared to this company's $2.22M).
Similar Nearby Businesses Who Received PPP Funding:
Liberty Lift Solutions, LLC
Jonathan M. Bear
Jelec USA Inc
Ivos, International Vision Of Strategy
South Brixton LLC
Industry PPP Comparison Statistics
Nationwide, 1,622 businesses in the "Oil and Gas Field Machinery and Equipment Manufacturing" industry received a total of $550.19M 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 23 employees, 77% lower than IPT Global LLC's reported 98 employees, and received an average PPP loan of $339,207, 85% lower than this company's loan of $2.22M.
FederalPay's PPP Information Policy
Footnotes & Information
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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