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PPP Loan Data — Mogas Industries, Inc, Houston, TX

SBA PPP loan data, payroll data, and salaries for Mogas Industries, Inc
TX

Mogas Industries, Inc

Entity: Corporation

Industry: Other Industrial Machinery Manufacturing

Location: Houston, TX

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Mogas Industries, Inc is a corporation located at 14330 East Hardy St in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $4,007,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.01M

Jobs Retained:

221

Loan Approved:

2020-04-09

Lender:

THIRD COAST BANK SSB

Mogas Industries, Inc in Houston, TX received a Paycheck Protection Loan of $4.01M through THIRD COAST BANK SSB, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mogas Industries, Inc's total 2019 payroll expenses were approximately $19.24M in order to qualify for the PPP loan amount received.

Based on their reported 221 jobs retained, this equals an estimated average yearly compensation of $87,041 per employee1.

Because the loan received by Mogas Industries, 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 - Mogas Industries, Inc in Houston, TX

Mogas Industries, Inc
14330 East Hardy St
Houston, TX 77039

Business Industry

Other Industrial Machinery Manufacturing (NAICS code 333249)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-29

Industry PPP Comparison Statistics

Nationwide, 2,172 businesses in the "Other Industrial Machinery Manufacturing" industry received a total of $695,492,915.00 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 22 employees, 90% lower than Mogas Industries, Inc's reported 221 employees, and received an average PPP loan of $320,209, 92% lower than this company's loan of $4.01M.

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, 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/mogas-industries-inc-houston-tx