PPP Loan Data — Lubrication Engineers, Inc, Wichita, KS
Lubrication Engineers, Inc
Location: Wichita, KSTweet This • Search All PPP Data
Lubrication Engineers, Inc is a corporation located at 1919 E. Tulsa St in Wichita, Kansas that received a Coronavirus-related PPP loan from the SBA of $1,582,700.00 in April, 2020.
The company has reported itself as a White owned business, and employed at least 96 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Fidelity Bank, National Association
Lubrication Engineers, Inc in Wichita, KS received a Paycheck Protection Loan of $1.58M through Fidelity Bank, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.
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, Lubrication Engineers, Inc's 2019 payroll expenses are estimated to be at least $7.6M.
Based on their reported 96 jobs retained, this equals an estimated average yearly compensation of $79,135 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lubrication Engineers, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,582,700
Business Information - Lubrication Engineers, Inc in Wichita, KS
1919 E. Tulsa St
Wichita, KS 67216
Petroleum Lubricating Oil and Grease Manufacturing
NAICS code 324191
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 443 businesses in the "Petroleum Lubricating Oil and Grease Manufacturing" industry received a total of $134.7M 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 22 employees, 77% lower than Lubrication Engineers, Inc's reported 96 employees, and received an average PPP loan of $304,064, 81% lower than this company's loan of $1.58M.
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Footnotes & Information
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