PPP Loan Data — KMT Wireless, LLC, Grapevine, TX
KMT Wireless, LLC is a corporation located at 4055 Corporate Dr Ste 400 in Grapevine, Texas that received a Coronavirus-related PPP loan from the SBA of $2,228,862.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
KMT Wireless, LLC in Grapevine, TX received a Paycheck Protection Loan of $2.23M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 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, KMT Wireless, LLC's 2019 payroll expenses are estimated to be at least $10.7M.
Based on their reported 310 jobs retained, this equals an estimated average yearly compensation of $34,511 per employee1
Reported PPP Proceed Usage:
On the PPP application, KMT Wireless, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,228,862
Business Information - KMT Wireless, LLC in Grapevine, TX
4055 Corporate Dr Ste 400
Grapevine, TX 76051
Consumer Electronics Repair and Maintenance
NAICS code 811211
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Grapevine
In the Grapevine area, 2 businesses in the "Consumer Electronics Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 210 employees (compared to this company's 310) and received an average PPP loan of $1,648,801 (compared to this company's $2.23M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 5,848 businesses in the "Consumer Electronics Repair and Maintenance" industry received a total of $204.36M 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 4 employees, 99% lower than KMT Wireless, LLC's reported 310 employees, and received an average PPP loan of $34,945, 98% lower than this company's loan of $2.23M.
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Footnotes & Information
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