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PPP Loan Data — Pentex 1848, LLC, Lakeland, FL

SBA PPP loan data, payroll data, and salaries for Pentex 1848, LLC

FRANCHISE

FL

Pentex 1848, LLC

Entity: Limited Liability Company (LLC)

Industry: General Rental Centers

Franchise: Buddy's Home Furnishings

Location: Lakeland, FL

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Pentex 1848, LLC is a limited liability company (LLC) located at 1345 George Jenkins Blvd in Lakeland, Florida that received a Coronavirus-related PPP loan from the SBA of $1,587,040.00 in April, 2020. This business is a Buddy's Home Furnishings franchise.

$ PPP Loan Information
Loan #5708607104

Loan Size:

$1.59M

Jobs Retained:

190

Loan Approved:

2020-04-13

Loan Status:

Paid in Full or Forgiven

Lender:

Texas Capital Bank, National Association

Pentex 1848, LLC in Lakeland, FL received a Paycheck Protection Loan of $1.59M through Texas Capital Bank, 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 January, 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, Pentex 1848, LLC's 2019 payroll expenses are estimated to be at least $7.62M.

Based on their reported 190 jobs retained, this equals an estimated average yearly compensation of $40,094 per employee1

Reported PPP Proceed Usage:

On the PPP application, Pentex 1848, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,274,353
  • Utilities: $31,861
  • Rent: $280,826

Business Information - Pentex 1848, LLC in Lakeland, FL

Pentex 1848, LLC
1345 George Jenkins Blvd
Lakeland, FL 33815

Business Industry:
General Rental Centers
NAICS code 532310

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

Polk County, FL — SBA Office 0455 — Congressional District: FL-15

Similar Companies near Lakeland

In the Lakeland area, 4 businesses in the "General Rental Centers" industry received a PPP loan. These local businesses reported an average of 94 employees (compared to this company's 190) and received an average PPP loan of $823,849 (compared to this company's $1.59M).

Industry PPP Comparison Statistics

Nationwide, 2,803 businesses in the "General Rental Centers" industry received a total of $219.08M 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 9 employees, 95% lower than Pentex 1848, LLC's reported 190 employees, and received an average PPP loan of $78,158, 95% lower than this company's loan of $1.59M.

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/pentex-1848-llc-lakeland-fl