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PPP Loan Data — Sunset Logistics Inc,
Fort Worth, TX
Sunset Logistics Inc
Entity: Subchapter S Corporation
Industry: Specialized Freight (except Used Goods) Trucking, Local
Location: Fort Worth, TX
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Sunset Logistics Inc is a subchapter s corporation located at 7200 Midway Rd in Fort Worth, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
The company has reported itself as a male owned business, and employed at least 250 people during the applicable loan loan period.
$
PPP Loan Information
Loan #7111498503
Loan Size:
Jobs Retained:
250Loan Approved:
2021-03-05Loan Status:
Active Un-DisbursedLender:
Guaranty Bank & Trust, National AssociationSunset Logistics Inc in Fort Worth, TX received a Paycheck Protection Loan of $2M through Guaranty Bank & Trust, National Association, which was approved in March, 2021.
While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $2M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 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 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, Sunset Logistics Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $38,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sunset Logistics Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Sunset Logistics Inc in Fort Worth, TX
7200 Midway Rd
Fort Worth, TX 76118
Business Industry:
Specialized Freight (except Used Goods) Trucking, Local
NAICS code 484220
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Fort Worth
In the Fort Worth area, 6 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 250) and received an average PPP loan of $978,646 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
DMR Trucking
Haltom City, TX
J&L Solutions
Fort Worth, TX
Sunset Logistics, Inc
Fort Worth, TX
Hernandez Trucking
Haltom City, TX
Protect Transportation LLC
Haltom City, TX
Industry PPP Comparison Statistics
Nationwide, 25,630 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a total of $1.9B 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, 97% lower than Sunset Logistics Inc's reported 250 employees, and received an average PPP loan of $74,289, 96% lower than this company's loan of $2M.
Sunset Logistics, Inc
Entity: Subchapter S Corporation
Industry: Specialized Freight (except Used Goods) Trucking, Local
Location: Fort Worth, TX
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•
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Sunset Logistics, Inc is a subchapter s corporation located at 7200 Midway Rd in Fort Worth, Texas that received a Coronavirus-related PPP loan from the SBA of $3,809,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 250 people during the applicable loan loan period.
$
PPP Loan Information
Loan #5657297106
Loan Size:
Jobs Retained:
250Loan Approved:
2020-04-13Loan Status:
Ongoing LoanLender:
Guaranty Bank & Trust, National AssociationSunset Logistics, Inc in Fort Worth, TX received a Paycheck Protection Loan of $3.81M through Guaranty Bank & Trust, National Association, 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, Sunset Logistics, Inc's 2019 payroll expenses are estimated to be at least $18.28M.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $73,139 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sunset Logistics, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,809,300
Business Information - Sunset Logistics, Inc in Fort Worth, TX
7200 Midway Rd
Fort Worth, TX 76118
Business Industry:
Specialized Freight (except Used Goods) Trucking, Local
NAICS code 484220
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Fort Worth
In the Fort Worth area, 6 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 250) and received an average PPP loan of $978,646 (compared to this company's $3.81M).
Similar Nearby Businesses Who Received PPP Funding:
DMR Trucking
Haltom City, TX
J&L Solutions
Fort Worth, TX
Hernandez Trucking
Haltom City, TX
Sunset Logistics Inc
Fort Worth, TX
Protect Transportation LLC
Haltom City, TX
Industry PPP Comparison Statistics
Nationwide, 25,630 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a total of $1.9B 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, 97% lower than Sunset Logistics, Inc's reported 250 employees, and received an average PPP loan of $74,289, 98% lower than this company's loan of $3.81M.
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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