PPP Loan Data — Purext, LLC, Loveland, CO
Purext, LLC is a limited liability company (LLC) located at 595 W. 66th St in Loveland, Colorado that received a Coronavirus-related PPP loan from the SBA of $46,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Purext, LLC in Loveland, CO received a Paycheck Protection Loan of $46,000 through Independent Bank, 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 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, Purext, LLC's 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Purext, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,000
- Utilities: $6,000
- Rent: $6,000
Business Information - Purext, LLC in Loveland, CO
595 W. 66th St
Loveland, CO 80538
Other Food Crops Grown Under Cover
NAICS code 111419
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,167 businesses in the "Other Food Crops Grown Under Cover" industry received a total of $59.89M 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, 75% higher than Purext, LLC's reported 4 employees, and received an average PPP loan of $51,318, 12% higher than this company's loan of $46,000.
FederalPay's PPP Information Policy
Footnotes & Information
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