PPP Loan Data — Opportune, LP, Houston, TX
Opportune, LP is a limited liability partnership located at 4424 West Sam Houston Parkway North 200 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $1,671,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 80 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cadence Bank, National Association
Opportune, LP in Houston, TX received a Paycheck Protection Loan of $1.67M through Cadence Bank, 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 80. 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, Opportune, LP's 2019 payroll expenses are estimated to be at least $8.02M (not accounting for salary amounts > $100k).
Because the 80 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, Opportune, LP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,633,482
- Mortgage Interest: $37,518
Business Information - Opportune, LP in Houston, TX
4424 West Sam Houston Parkway North 200
Houston, TX 77041
Support Activities for Oil and Gas Operations
NAICS code 213112
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 72 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 80) and received an average PPP loan of $589,336 (compared to this company's $1.67M).
Similar Nearby Businesses Who Received PPP Funding:
Plexus Investments USA Inc
Harvey Rock Physics Inc
RL Energy Solutions LLC
LFF Houston Inc
Kevin Dale Neeley
Kinetic Pressure Control Limited
Louisiana Electric Resource & Supply, LLC
Industry PPP Comparison Statistics
Nationwide, 20,810 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.86B 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 12 employees, 85% lower than Opportune, LP's reported 80 employees, and received an average PPP loan of $185,360, 89% lower than this company's loan of $1.67M.
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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