PPP Loan Data — MVP Holdings, LLC, Wichita, KS
MVP Holdings, LLC
Entity: Limited Liability Company (LLC)
Industry: Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)
Location: Wichita, KSTweet This • Search All PPP Data
MVP Holdings, LLC is a limited liability company (LLC) located at 8301 E 21st St N Ste 370 in Wichita, Kansas that received a Coronavirus-related PPP loan from the SBA of $1,789,307.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
MVP Holdings, LLC in Wichita, KS received a Paycheck Protection Loan of $1.79M through Bank of America, National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 86. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, MVP Holdings, LLC's 2019 payroll expenses are estimated to be at least $8.59M (not accounting for salary amounts > $100k).
Because the 85 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, MVP Holdings, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,789,307
Business Information - MVP Holdings, LLC in Wichita, KS
8301 E 21st St N Ste 370
Wichita, KS 67206
Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)
NAICS code 424720
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Wichita
In the Wichita area, 2 businesses in the "Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 85) and received an average PPP loan of $915,772 (compared to this company's $1.79M).
Similar Nearby Businesses Who Received PPP Funding:
Petro Warrior Inc
Industry PPP Comparison Statistics
Nationwide, 3,488 businesses in the "Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)" industry received a total of $829.52M 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 23 employees, 73% lower than MVP Holdings, LLC's reported 85 employees, and received an average PPP loan of $237,822, 87% lower than this company's loan of $1.79M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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