PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA (Updated January 8, 2023)

PPP Loan Data — Summit Resources LLC, Denver, CO

ALERT: There are 2 PPP loans for a total of $6.75M in our database for businesses with the name "Summit Resources LLC" in Denver, 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 Summit Resources LLC
CO

Summit Resources LLC

Entity: Limited Liability Company (LLC)

Industry: Other Activities Related to Real Estate

Location: Denver, CO

Search All PPP Data

Summit Resources LLC is a limited liability company (LLC) located at 3300 E 1st Ave Ste 480 in Denver, Colorado that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2021.

The company has reported itself as a White male owned business, and employed at least 225 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4950208701

Loan Size:

$2M

Jobs Retained:

225

Loan Approved:

2021-04-01

Loan Status:

Paid in Full or Forgiven

Lender:

FirstBank

Summit Resources LLC in Denver, CO received a Paycheck Protection Loan of $2M through FirstBank, which was approved in April, 2021.

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 April, 2022.

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, Summit Resources LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 225 jobs retained, this equals an estimated average yearly compensation of $42,667 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $1,999,997
  • Utilities: $1
Because the loan received by Summit Resources LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Summit Resources LLC in Denver, CO

Summit Resources LLC
3300 E 1st Ave Ste 480
Denver, CO 80206

Business Industry:
Other Activities Related to Real Estate
NAICS code 531390

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Denver County, CO — SBA Office 0811 — Congressional District: CO-01

Similar Companies near Denver

In the Denver area, 77 businesses in the "Other Activities Related to Real Estate" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 225) and received an average PPP loan of $148,996 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 77,352 businesses in the "Other Activities Related to Real Estate" industry received a total of $3.64B 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 4 employees, 98% lower than Summit Resources LLC's reported 225 employees, and received an average PPP loan of $47,090, 98% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Summit Resources LLC
CO

Summit Resources LLC

Entity: Limited Liability Company (LLC)

Industry: Other Activities Related to Real Estate

Location: Denver, CO

Search All PPP Data

Summit Resources LLC is a limited liability company (LLC) located at 3300 E 1st Ave Ste 480 in Denver, Colorado that received a Coronavirus-related PPP loan from the SBA of $4,748,000.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 250 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6489057000

Loan Size:

$4.75M

Jobs Retained:

250

Loan Approved:

2020-04-07

Loan Status:

Ongoing Loan

Lender:

FirstBank

Summit Resources LLC in Denver, CO received a Paycheck Protection Loan of $4.75M through FirstBank, which was approved in April, 2020.

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.

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, Summit Resources LLC's 2019 payroll expenses are estimated to be at least $22.79M.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $91,162 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $4,748,000
Because the loan received by Summit Resources LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Summit Resources LLC in Denver, CO

Summit Resources LLC
3300 E 1st Ave Ste 480
Denver, CO 80206

Business Industry:
Other Activities Related to Real Estate
NAICS code 531390

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Denver County, CO — SBA Office 0811 — Congressional District: CO-01

Similar Companies near Denver

In the Denver area, 77 businesses in the "Other Activities Related to Real Estate" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 250) and received an average PPP loan of $148,996 (compared to this company's $4.75M).

Industry PPP Comparison Statistics

Nationwide, 77,352 businesses in the "Other Activities Related to Real Estate" industry received a total of $3.64B 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 4 employees, 98% lower than Summit Resources LLC's reported 250 employees, and received an average PPP loan of $47,090, 99% lower than this company's loan of $4.75M.

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.


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Source: www.federalpay.org/paycheck-protection-program/summit-resources-llc-denver-co