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PPP Loan Data — Summit Resources LLC,
Denver, CO
Summit Resources LLC
Entity: Limited Liability Company (LLC)
Industry: Other Activities Related to Real Estate
Location: Denver, CO
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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:
Jobs Retained:
225Loan Approved:
2021-04-01Loan Status:
Paid in Full or ForgivenLender:
FirstBankSummit 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 MoreUnderstanding 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 MoreBased 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
Business Information - Summit Resources LLC in Denver, CO
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
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).
Similar Nearby Businesses Who Received PPP Funding:
GDF Elevation, LLC
Denver, CO
CO Home Renovations LLC
Denver, CO
Broker Life LLC
Denver, CO
Iconic Investments II, Inc
Denver, CO
Gore Creek Development Inc
Denver, CO
Karen Landers
Denver, CO
Paragon Loan Advisors LLC
Denver, CO
Fredrick D Glick
Denver, CO
Seamless Property Solutions, LLC
Denver, CO
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.
Summit Resources LLC
Entity: Limited Liability Company (LLC)
Industry: Other Activities Related to Real Estate
Location: Denver, CO
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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:
Jobs Retained:
250Loan Approved:
2020-04-07Loan Status:
Ongoing LoanLender:
FirstBankSummit 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 MoreUnderstanding 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 MoreBased 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
Business Information - Summit Resources LLC in Denver, CO
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
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).
Similar Nearby Businesses Who Received PPP Funding:
GDF Elevation, LLC
Denver, CO
CO Home Renovations LLC
Denver, CO
Broker Life LLC
Denver, CO
Iconic Investments II, Inc
Denver, CO
Gore Creek Development Inc
Denver, CO
Karen Landers
Denver, CO
Paragon Loan Advisors LLC
Denver, CO
Fredrick D Glick
Denver, CO
Seamless Property Solutions, LLC
Denver, CO
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.
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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