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PPP Loan Data — King & George LLC, Fort Worth, TX

SBA PPP loan data, payroll data, and salaries for King & George LLC
TX

King & George LLC

Entity: Limited Liability Company (LLC)

Industry: All Other Professional, Scientific, and Technical Services

Location: Fort Worth, TX

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King & George LLC is a limited liability company (LLC) located at 320 Hemphill St in Fort Worth, Texas that received a Coronavirus-related PPP loan from the SBA of $2,652,200.00 in April, 2020.

The company has reported itself as a Hispanic male owned business, and employed at least 246 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.65M

Jobs Retained:

246

Loan Approved:

2020-04-09

Lender:

FIRST UNITED BANK AND TRUST COMPANY

King & George LLC in Fort Worth, TX received a Paycheck Protection Loan of $2.65M through FIRST UNITED BANK AND TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, King & George LLC's total 2019 payroll expenses were approximately $12.73M in order to qualify for the PPP loan amount received.

Based on their reported 246 jobs retained, this equals an estimated average yearly compensation of $51,750 per employee1.

Because the loan received by King & George LLC 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 - King & George LLC in Fort Worth, TX

King & George LLC
320 Hemphill St
Fort Worth, TX 76104

Business Industry

All Other Professional, Scientific, and Technical Services (NAICS code 541990)

Business Owner Demographics

Race / Ethnicity: HISPANIC

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: TX-12

Similar Companies near Fort Worth

In the Fort Worth area, 10 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 246) and received an average PPP loan of $280,724 (compared to this company's $2.65M).

Industry PPP Comparison Statistics

Nationwide, 63,722 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $4,746,522,934.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 98% lower than King & George LLC's reported 246 employees, and received an average PPP loan of $74,488, 97% lower than this company's loan of $2.65M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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/king-and-george-llc-fort-worth-tx