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PPP Loan Data — Pentagon Freight Services, Inc, Houston, TX

SBA PPP loan data, payroll data, and salaries for Pentagon Freight Services, Inc
TX

Pentagon Freight Services, Inc

Entity: Corporation

Industry: Freight Transportation Arrangement

Location: Houston, TX

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Pentagon Freight Services, Inc is a corporation located at 1211 East Richey Road in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $1,734,629.00 in May, 2020.

$ PPP Loan Information
Loan #9016247307

Loan Size:

$1.73M

Jobs Retained:

145

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Texas Capital Bank, National Association

Pentagon Freight Services, Inc in Houston, TX received a Paycheck Protection Loan of $1.73M through Texas Capital Bank, National Association, which was approved in May, 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 June, 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, Pentagon Freight Services, Inc's 2019 payroll expenses are estimated to be at least $8.33M.

Based on their reported 145 jobs retained, this equals an estimated average yearly compensation of $57,422 per employee1

Reported PPP Proceed Usage:

On the PPP application, Pentagon Freight Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,676,206
  • Utilities: $18,538
  • Mortgage Interest: $22,085
  • Rent: $17,800

Business Information - Pentagon Freight Services, Inc in Houston, TX

Pentagon Freight Services, Inc
1211 East Richey Road
Houston, TX 77073

Business Industry:
Freight Transportation Arrangement
NAICS code 488510

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: Y

HUBZone: Y

Rural / Urban: Urban

Harris County, TX — SBA Office 0671 — Congressional District: TX-18

Similar Companies near Houston

In the Houston area, 52 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 145) and received an average PPP loan of $120,643 (compared to this company's $1.73M).

Industry PPP Comparison Statistics

Nationwide, 26,171 businesses in the "Freight Transportation Arrangement" industry received a total of $1.88B 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 7 employees, 95% lower than Pentagon Freight Services, Inc's reported 145 employees, and received an average PPP loan of $72,001, 96% lower than this company's loan of $1.73M.

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/pentagon-freight-services-inc-houston-tx