Kogok Corporation in Upper Marlboro, MD - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Kogok Corporation, Upper Marlboro, MD

Kogok Corporation

Entity: Subchapter S Corporation

Industry: Plumbing, Heating, and Air-Conditioning Contractors

Location: Upper Marlboro, MD

Kogok Corporation is a subchapter s corporation located at 201 Commerce Drive in Upper Marlboro, Maryland that received a Coronavirus-related PPP loan from the SBA of $5,859,555.00 in April, 2020.

$ PPP Loan Information
Loan #5920537104

Loan Size:

$5.86M

Jobs Retained:

376

Loan Approved:

2020-04-14

Loan Status:

Ongoing Loan

Lender:

Manufacturers and Traders Trust Company

Kogok Corporation in Upper Marlboro, MD received a Paycheck Protection Loan of $5.86M through Manufacturers and Traders Trust Company, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

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, Kogok Corporation's 2019 payroll expenses are estimated to be at least $28.13M.

Based on their reported 376 jobs retained, this equals an estimated average yearly compensation of $74,803 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Kogok Corporation reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $5,544,178
Rent: $190,377
Health Care: $125,000

Because the loan received by Kogok Corporation 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 - Kogok Corporation in Upper Marlboro, MD

Kogok Corporation
201 Commerce Drive
Upper Marlboro, MD 20774

Business Industry:
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Prince Georges County, MD — SBA Office 0353 — Congressional District: MD-04

Similar Companies near Upper Marlboro

In the Upper Marlboro area, 17 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 73 employees (compared to this company's 376) and received an average PPP loan of $1,190,783 (compared to this company's $5.86M).

Similar Nearby Businesses Who Received PPP Funding:

Guardian Plumbing Services, Inc
Upper Marlboro, MD

$177,900 PPP Loan

The Severn Group, Inc
Upper Marlboro, MD

$3.65M PPP Loan

Dexter Donkor
Upper Marlboro, MD

$19,912 PPP Loan

Dexter Donkor
Largo, MD

$19,912 PPP Loan

Mohamed Kamara
Upper Marlboro, MD

$7,679 PPP Loan

T & T HVAC And Electrical LLC
Upper Marlboro, MD

$20,800 PPP Loan

Welch And Rushe Inc
Upper Marlboro, MD

$2M PPP Loan

JCM Associates, Inc
Upper Marlboro, MD

$3.76M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 92,266 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $12.59B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 97% lower than Kogok Corporation's reported 376 employees, and received an average PPP loan of $136,477, 98% lower than this company's loan of $5.86M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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