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PPP Loan Data — Loloi Inc, Farmers Branch, TX

SBA PPP loan data, payroll data, and salaries for Loloi Inc
TX

Loloi Inc

Entity: Subchapter S Corporation

Industry: Other Miscellaneous Durable Goods Merchant Wholesalers

Location: Farmers Branch, TX

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Loloi Inc is a subchapter s corporation located at 4501 Spring Valley Road in Farmers Branch, Texas that received a Coronavirus-related PPP loan from the SBA of $3,057,400.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.06M

Jobs Retained:

403

Loan Approved:

2020-04-15

Lender:

REGIONS BANK

Loloi Inc received a Paycheck Protection Loan of $3.06M through REGIONS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Loloi Inc's total 2019 payroll expenses were approximately $14.68M in order to qualify for the PPP loan amount received.

Based on their reported 403 jobs retained, this equals an estimated average yearly compensation of $36,416 per employee1.

Because the loan received by Loloi Inc 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 - Loloi Inc in Farmers Branch, TX

Loloi Inc
4501 Spring Valley Road
Farmers Branch, TX 75205

Business Industry

Other Miscellaneous Durable Goods Merchant Wholesalers (NAICS code 423990)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-32

Similar Companies near Farmers Branch

In the Farmers Branch area, 8 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 403) and received an average PPP loan of $438,784 (compared to this company's $3.06M).

Industry PPP Comparison Statistics

Nationwide, 12,909 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1,253,322,545.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 8 employees, 98% lower than Loloi Inc's reported 403 employees, and received an average PPP loan of $97,089, 97% lower than this company's loan of $3.06M.

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.

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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/loloi-inc-farmers-branch-tx