PPP Loan Data — LOK Tak Enterprises Inc., Sugar Land, TX
LOK Tak Enterprises Inc. is a corporation located at 15287 Southwest Freeway in Sugar Land, Texas that received a Coronavirus-related PPP loan from the SBA of $80,300.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least 25 people during the applicable loan loan period.
$ PPP Loan Information
Lender:SOUTHWESTERN NATIONAL BANK
LOK Tak Enterprises Inc. received a Paycheck Protection Loan of $80,300 through SOUTHWESTERN NATIONAL BANK, which was approved in April, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, LOK Tak Enterprises Inc.'s total 2019 payroll expenses were approximately $385,440 in order to qualify for the PPP loan amount received.
Based on their reported 25 jobs retained, this equals an estimated average yearly compensation of $15,418 per employee1.
Business Information - LOK Tak Enterprises Inc. in Sugar Land, TX
15287 Southwest Freeway
Sugar Land, TX 77478
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: ASIAN
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: TX-22
Similar Companies near Sugar Land
In the Sugar Land area, 125 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 77 employees (compared to this company's 25) and received an average PPP loan of $705,245 (compared to this company's $80,300).
Similar Nearby Businesses Who Received PPP Funding:
Txsdi 3572, LLC
Txsdi 4441, LLC
Karishma Enterprises, Inc.
GS Louisiana Enterprises LP
Txsdi 4442, LLC
Sugar Land, TX
Txsdi 3675, LLC
Lamarque Sdi, LLC
Sugar Land, TX
Txsdi 4950, LLC
Industry PPP Comparison Statistics
Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 8% lower than LOK Tak Enterprises Inc.'s reported 25 employees, and received an average PPP loan of $120,904, 51% higher than this company's loan of $80,300.
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.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!