PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Premiere Entertainment Group Inc, Colorado Springs, CO

ALERT: There are 2 PPP loans for a total of $183,672 in our database for businesses with the name "Premiere Entertainment Group Inc" in Colorado Springs, CO. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Premiere Entertainment Group Inc
CO

Premiere Entertainment Group Inc

Entity: Corporation

Industry: Drinking Places (Alcoholic Beverages)

Location: Colorado Springs, CO

Search All PPP Data

Premiere Entertainment Group Inc is a corporation located at 4630 Austin Bluffs Pkwy in Colorado Springs, Colorado that received a Coronavirus-related PPP loan from the SBA of $116,021.00 in February, 2021.

The company has reported itself as a White female owned business, and employed at least 75 people during the applicable loan loan period.

$ PPP Loan Information
Loan #2387378500

Loan Size:

$116,021

Jobs Retained:

75

Loan Approved:

2021-02-20

Loan Status:

Ongoing Loan

Lender:

Wells Fargo Bank, National Association

Premiere Entertainment Group Inc in Colorado Springs, CO received a Paycheck Protection Loan of $116,021 through Wells Fargo Bank, National Association, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.

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, Premiere Entertainment Group Inc's 2019 payroll expenses are estimated to be at least $556,901.

Based on their reported 75 jobs retained, this equals an estimated average yearly compensation of $7,425 per employee1

Reported PPP Proceed Usage:

On the PPP application, Premiere Entertainment Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $116,016
  • Utilities: $1

Business Information - Premiere Entertainment Group Inc in Colorado Springs, CO

Premiere Entertainment Group Inc
4630 Austin Bluffs Pkwy
Colorado Springs, CO 80918

Business Industry:
Drinking Places (Alcoholic Beverages)
NAICS code 722410

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

El Paso County, CO — SBA Office 0811 — Congressional District: CO-05

Similar Companies near Colorado Springs

In the Colorado Springs area, 19 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 75) and received an average PPP loan of $52,391 (compared to this company's $116,021).

Industry PPP Comparison Statistics

Nationwide, 46,392 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a total of $2.8B 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, 84% lower than Premiere Entertainment Group Inc's reported 75 employees, and received an average PPP loan of $60,256, 48% lower than this company's loan of $116,021.

SBA PPP loan data, payroll data, and salaries for Premiere Entertainment Group Inc
CO

Premiere Entertainment Group Inc

Entity: Corporation

Industry: Drinking Places (Alcoholic Beverages)

Location: Colorado Springs, CO

Search All PPP Data

Premiere Entertainment Group Inc is a corporation located at 4630 Austin Bluffs Parkway in Colorado Springs, Colorado that received a Coronavirus-related PPP loan from the SBA of $67,651.00 in May, 2020.

The company has reported itself as a White owned business, and employed at least fifteen people during the applicable loan loan period.

$ PPP Loan Information
Loan #8858217409

Loan Size:

$67,651

Jobs Retained:

15

Loan Approved:

2020-05-19

Loan Status:

Paid in Full or Forgiven

Lender:

Wells Fargo Bank, National Association

Premiere Entertainment Group Inc in Colorado Springs, CO received a Paycheck Protection Loan of $67,651 through Wells Fargo 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 July, 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, Premiere Entertainment Group Inc's 2019 payroll expenses are estimated to be at least $324,725.

Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $21,648 per employee1

Reported PPP Proceed Usage:

On the PPP application, Premiere Entertainment Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $67,651

Business Information - Premiere Entertainment Group Inc in Colorado Springs, CO

Premiere Entertainment Group Inc
4630 Austin Bluffs Parkway
Colorado Springs, CO 80918

Business Industry:
Drinking Places (Alcoholic Beverages)
NAICS code 722410

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

El Paso County, CO — SBA Office 0811 — Congressional District: CO-05

Similar Companies near Colorado Springs

In the Colorado Springs area, 19 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 15) and received an average PPP loan of $52,391 (compared to this company's $67,651).

Industry PPP Comparison Statistics

Nationwide, 46,392 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a total of $2.8B 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, 20% lower than Premiere Entertainment Group Inc's reported 15 employees, and received an average PPP loan of $60,256, 11% lower than this company's loan of $67,651.

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.

Search FederalPay's Full PPP Loan Database

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/premiere-entertainment-group-inc-colorado-springs-co