PPP Loan Data — Wapiti Operating LLC, Houston, TX
Wapiti Operating LLC is a limited liability company (LLC) located at 1310 Sam Houston Pkwy North in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $1,737,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Wapiti Operating LLC in Houston, TX received a Paycheck Protection Loan of $1.74M through Independent Bank, 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 83. 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, Wapiti Operating LLC's 2019 payroll expenses are estimated to be at least $8.34M (not accounting for salary amounts > $100k).
Because the 71 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, Wapiti Operating LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,497,800
- Utilities: $75,200
- Rent: $164,000
Business Information - Wapiti Operating LLC in Houston, TX
1310 Sam Houston Pkwy North
Houston, TX 77043
Other Electric Power Generation
NAICS code 221118
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 6 businesses in the "Other Electric Power Generation" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 71) and received an average PPP loan of $298,558 (compared to this company's $1.74M).
Similar Nearby Businesses Who Received PPP Funding:
Raisa Silva Perez
Everlast Holdings Inc
Criterion Research LLC
Industry PPP Comparison Statistics
Nationwide, 2,726 businesses in the "Other Electric Power Generation" industry received a total of $255.77M 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 8 employees, 89% lower than Wapiti Operating LLC's reported 71 employees, and received an average PPP loan of $93,827, 95% lower than this company's loan of $1.74M.
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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