PPP Loan Data — Pentagon Freight Services, Inc, Houston, TX
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 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
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, 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
1211 East Richey Road
Houston, TX 77073
Freight Transportation Arrangement
NAICS code 488510
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
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).
Similar Nearby Businesses Who Received PPP Funding:
Linear Shipping In
Heath Auto Transport
Jorge Pablo Rodriguez
HB Plus Bandamatic, Inc
M.b.m.i. Global, LLC
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.
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Footnotes & Information
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