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PPP Loan Data — Verge Mobile LLC,
Houston, TX
Verge Mobile LLC
Entity: Limited Liability Company (LLC)
Industry: Telecommunications Resellers
Location: Houston, TX
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Verge Mobile LLC is a limited liability company (LLC) located at 12000 Westheimer Rd., Ste 230 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $5,412,900.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-16Lender:
ZIONS BANK, A DIVISION OFVerge Mobile LLC in Houston, TX received a Paycheck Protection Loan of $5.41M through ZIONS BANK, A DIVISION OF, which was approved in April, 2020.
Based on standard PPP eligibility rules, Verge Mobile LLC's total 2019 payroll expenses were approximately $25.98M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $51,964 per employee1.
Business Information - Verge Mobile LLC in Houston, TX
12000 Westheimer Rd., Ste 230
Houston, TX 77077
Business Industry
Telecommunications Resellers (NAICS code 517911)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: TX-07Similar Companies near Houston
In the Houston area, 2 businesses in the "Telecommunications Resellers" industry received a PPP loan. These local businesses reported an average of 250 employees (compared to this company's 500) and received an average PPP loan of $2,857,190 (compared to this company's $5.41M).
Similar Nearby Businesses Who Received PPP Funding:
Texas Mobile Pcs
Houston, TX
Industry PPP Comparison Statistics
Nationwide, 1,596 businesses in the "Telecommunications Resellers" industry received a total of $356,494,761.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 16 employees, 97% lower than Verge Mobile LLC's reported 500 employees, and received an average PPP loan of $223,368, 96% lower than this company's loan of $5.41M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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