PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Maverick Fitness Holdings LLC, Frisco, TX

ALERT: There are 2 PPP loans for a total of $4.71M in our database for businesses with the name "Maverick Fitness Holdings LLC" in Frisco, TX. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Maverick Fitness Holdings LLC

FRANCHISE

TX

Maverick Fitness Holdings LLC

Entity: Limited Liability Company (LLC)

Industry: Fitness and Recreational Sports Centers

Franchise: Orange Theory Fitness

Location: Frisco, TX

Search All PPP Data

Maverick Fitness Holdings LLC is a limited liability company (LLC) located at 2601 Network Blvd Ste 200 in Frisco, Texas that received a Coronavirus-related PPP loan from the SBA of $1,923,872.00 in February, 2021. This business is a Orange Theory Fitness franchise.

$ PPP Loan Information
Loan #3098748404

Loan Size:

$1.92M

Jobs Retained:

299

Loan Approved:

2021-02-04

Loan Status:

Ongoing Loan

Lender:

East West Bank

Maverick Fitness Holdings LLC in Frisco, TX received a Paycheck Protection Loan of $1.92M through East West Bank, which was approved in February, 2021.

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.

Read More
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.

Read More

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, Maverick Fitness Holdings LLC's 2019 payroll expenses are estimated to be at least $9.23M.

Based on their reported 299 jobs retained, this equals an estimated average yearly compensation of $30,885 per employee1

Reported PPP Proceed Usage:

On the PPP application, Maverick Fitness Holdings LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,923,867
  • Utilities: $1

Business Information - Maverick Fitness Holdings LLC in Frisco, TX

Maverick Fitness Holdings LLC
2601 Network Blvd Ste 200
Frisco, TX 75034

Business Industry:
Fitness and Recreational Sports Centers
NAICS code 713940

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

Collin County, TX — SBA Office 0610 — Congressional District: TX-03

Similar Companies near Frisco

In the Frisco area, 42 businesses in the "Fitness and Recreational Sports Centers" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 299) and received an average PPP loan of $149,672 (compared to this company's $1.92M).

Similar Nearby Businesses Who Received PPP Funding:

Maverick Fitness Holdings, LLC
Frisco, TX

$2.79M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 53,442 businesses in the "Fitness and Recreational Sports Centers" industry received a total of $2.76B 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 13 employees, 96% lower than Maverick Fitness Holdings LLC's reported 299 employees, and received an average PPP loan of $51,681, 97% lower than this company's loan of $1.92M.

SBA PPP loan data, payroll data, and salaries for Maverick Fitness Holdings, LLC

FRANCHISE

TX

Maverick Fitness Holdings, LLC

Entity: Limited Liability Company (LLC)

Industry: Fitness and Recreational Sports Centers

Franchise: Orange Theory Fitness

Location: Frisco, TX

Search All PPP Data

Maverick Fitness Holdings, LLC is a limited liability company (LLC) located at 2601 Network Blvd, Ste 200 in Frisco, Texas that received a Coronavirus-related PPP loan from the SBA of $2,790,900.00 in April, 2020. This business is a Orange Theory Fitness franchise.

$ PPP Loan Information
Loan #5236777001

Loan Size:

$2.79M

Jobs Retained:

250

Loan Approved:

2020-04-05

Loan Status:

Ongoing Loan

Lender:

East West Bank

Maverick Fitness Holdings, LLC in Frisco, TX received a Paycheck Protection Loan of $2.79M through East West Bank, 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.

Read More
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.

Read More

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, Maverick Fitness Holdings, LLC's 2019 payroll expenses are estimated to be at least $13.4M.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $53,585 per employee1

Reported PPP Proceed Usage:

On the PPP application, Maverick Fitness Holdings, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,790,900
Because the loan received by Maverick Fitness Holdings, LLC 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 - Maverick Fitness Holdings, LLC in Frisco, TX

Maverick Fitness Holdings, LLC
2601 Network Blvd, Ste 200
Frisco, TX 75034

Business Industry:
Fitness and Recreational Sports Centers
NAICS code 713940

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Collin County, TX — SBA Office 0610 — Congressional District: TX-03

Similar Companies near Frisco

In the Frisco area, 42 businesses in the "Fitness and Recreational Sports Centers" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 250) and received an average PPP loan of $149,672 (compared to this company's $2.79M).

Similar Nearby Businesses Who Received PPP Funding:

Maverick Fitness Holdings LLC
Frisco, TX

$1.92M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 53,442 businesses in the "Fitness and Recreational Sports Centers" industry received a total of $2.76B 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 13 employees, 95% lower than Maverick Fitness Holdings, LLC's reported 250 employees, and received an average PPP loan of $51,681, 98% lower than this company's loan of $2.79M.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/maverick-fitness-holdings-llc-frisco-tx