PPP Loan Data — Thermigen LLC, Austin, TX
Thermigen LLC is a limited liability company (LLC) located at 4719 South Congress in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $1,662,500.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 30 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Horizon Bank, SSB
Thermigen LLC in Austin, TX received a Paycheck Protection Loan of $1.66M through Horizon Bank, SSB, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 80. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Thermigen LLC's 2019 payroll expenses are estimated to be at least $7.98M (not accounting for salary amounts > $100k).
Because the 30 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Thermigen LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,662,500
Business Information - Thermigen LLC in Austin, TX
4719 South Congress
Austin, TX 78745
Surgical and Medical Instrument Manufacturing
NAICS code 339112
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Austin
In the Austin area, 7 businesses in the "Surgical and Medical Instrument Manufacturing" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 30) and received an average PPP loan of $967,561 (compared to this company's $1.66M).
Similar Nearby Businesses Who Received PPP Funding:
Genesys Life Sciences LLC
Nanomedical Systems, Inc
Origen Biomedical Inc
International Biophysics Corporation
Apollo Endosurgery Us, Inc
West Lake Hills, TX
Industry PPP Comparison Statistics
Nationwide, 3,435 businesses in the "Surgical and Medical Instrument Manufacturing" industry received a total of $858.13M 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 18 employees, 40% lower than Thermigen LLC's reported 30 employees, and received an average PPP loan of $249,819, 85% lower than this company's loan of $1.66M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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