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PPP Loan Data — Vortech Contracting Inc,
Winnie, TX
Vortech Contracting Inc
Entity: Subchapter S Corporation
Industry: Water and Sewer Line and Related Structures Construction
Location: Winnie, TX
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Vortech Contracting Inc is a subchapter s corporation located at 42408 I-10 in Winnie, Texas that received a Coronavirus-related PPP loan from the SBA of $1,995,000.00 in January, 2021.
$
PPP Loan Information
Loan #7056338301
Loan Size:
Jobs Retained:
230Loan Approved:
2021-01-27Loan Status:
Paid in Full or ForgivenLender:
Third Coast Bank SSBVortech Contracting Inc in Winnie, TX received a Paycheck Protection Loan of $2M through Third Coast Bank SSB, which was approved in January, 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 December, 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, Vortech Contracting Inc's 2019 payroll expenses are estimated to be at least $9.58M.
Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $41,635 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vortech Contracting Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,994,994
- Utilities: $1
Business Information - Vortech Contracting Inc in Winnie, TX
42408 I-10
Winnie, TX 77665
Business Industry:
Water and Sewer Line and Related Structures Construction
NAICS code 237110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Rural
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Vortech Contracting Inc.
Accent Compliance LLC
All Other Professional, Scientific, and Technical Services
Similar Companies near Winnie
In the Winnie area, 2 businesses in the "Water and Sewer Line and Related Structures Construction" industry received a PPP loan. These local businesses reported an average of 116 employees (compared to this company's 230) and received an average PPP loan of $998,084 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Robert Lorraine
Winnie, TX
Industry PPP Comparison Statistics
Nationwide, 8,802 businesses in the "Water and Sewer Line and Related Structures Construction" industry received a total of $1.93B 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 17 employees, 93% lower than Vortech Contracting Inc's reported 230 employees, and received an average PPP loan of $219,058, 89% lower than this company's loan of $2M.
Vortech Contracting, Inc
Entity: Subchapter S Corporation
Industry: Oil and Gas Pipeline and Related Structures Construction
Location: Winnie, TX
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Vortech Contracting, Inc is a subchapter s corporation located at 2279 Po Box in Winnie, Texas that received a Coronavirus-related PPP loan from the SBA of $4,023,769.00 in April, 2020.
$
PPP Loan Information
Loan #3168997104
Loan Size:
Jobs Retained:
285Loan Approved:
2020-04-11Loan Status:
Paid in Full or ForgivenLender:
First Financial Bank, National AssociationVortech Contracting, Inc in Winnie, TX received a Paycheck Protection Loan of $4.02M through First Financial Bank, National Association, which was approved in April, 2020.
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 July, 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, Vortech Contracting, Inc's 2019 payroll expenses are estimated to be at least $19.31M.
Based on their reported 285 jobs retained, this equals an estimated average yearly compensation of $67,769 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vortech Contracting, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,017,827
- Utilities: $1,005,942
Business Information - Vortech Contracting, Inc in Winnie, TX
2279 Po Box
Winnie, TX 77665
Business Industry:
Oil and Gas Pipeline and Related Structures Construction
NAICS code 237120
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Rural
Similar Companies near Winnie
In the Winnie area, 2 businesses in the "Oil and Gas Pipeline and Related Structures Construction" industry received a PPP loan. These local businesses reported an average of 146 employees (compared to this company's 285) and received an average PPP loan of $2,041,985 (compared to this company's $4.02M).
Similar Nearby Businesses Who Received PPP Funding:
Roughneck Rentals, LP
Winnie, TX
Industry PPP Comparison Statistics
Nationwide, 3,016 businesses in the "Oil and Gas Pipeline and Related Structures Construction" industry received a total of $1.06B 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 23 employees, 92% lower than Vortech Contracting, Inc's reported 285 employees, and received an average PPP loan of $350,845, 91% lower than this company's loan of $4.02M.
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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