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PPP Loan Data — Motivating Graphics Inc, Ft Worth, TX

SBA PPP loan data, payroll data, and salaries for Motivating Graphics Inc
TX

Motivating Graphics Inc

Entity: Limited Liability Company (LLC)

Industry: All Other Professional, Scientific, and Technical Services

Location: Ft Worth, TX

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Motivating Graphics Inc is a limited liability company (LLC) located at 3100 Eagle Pkwy in Ft Worth, Texas that received a Coronavirus-related PPP loan from the SBA of $1,926,183.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 189 people during the applicable loan loan period.

$ PPP Loan Information
Loan #2140287205

Loan Size:

$1.93M

Jobs Retained:

189

Loan Approved:

2020-04-15

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Motivating Graphics Inc in Ft Worth, TX received a Paycheck Protection Loan of $1.93M through Bank of America, 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 May, 2021.

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, Motivating Graphics Inc's 2019 payroll expenses are estimated to be at least $9.25M.

Based on their reported 189 jobs retained, this equals an estimated average yearly compensation of $48,919 per employee1

Reported PPP Proceed Usage:

On the PPP application, Motivating Graphics Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,926,183

Business Information - Motivating Graphics Inc in Ft Worth, TX

Motivating Graphics Inc
3100 Eagle Pkwy
Ft Worth, TX 76117

Business Industry:
All Other Professional, Scientific, and Technical Services
NAICS code 541990

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Tarrant County, TX — SBA Office 0610 — Congressional District: TX-12

Similar Companies near Ft Worth

In the Ft Worth area, 33 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 189) and received an average PPP loan of $99,532 (compared to this company's $1.93M).

Industry PPP Comparison Statistics

Nationwide, 129,763 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.41B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 5 employees, 97% lower than Motivating Graphics Inc's reported 189 employees, and received an average PPP loan of $57,091, 97% lower than this company's loan of $1.93M.

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.

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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.


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Source: www.federalpay.org/paycheck-protection-program/motivating-graphics-inc-ft-worth-tx