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PPP Loan Data — Workplace Elements LLC,
Denver, CO
Workplace Elements LLC
Entity: Limited Liability Company (LLC)
Industry: Other Building Finishing Contractors
Location: Denver, CO
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Workplace Elements LLC is a limited liability company (LLC) located at 2501 Blake St in Denver, Colorado that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #7072908404
Loan Size:
Jobs Retained:
134Loan Approved:
2021-02-11Loan Status:
Ongoing LoanLender:
BOKF, National AssociationWorkplace Elements LLC in Denver, CO received a Paycheck Protection Loan of $2M through BOKF, National Association, which was approved in February, 2021.
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, Workplace Elements LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 134 jobs retained, this equals an estimated average yearly compensation of $71,642 per employee1
Reported PPP Proceed Usage:
On the PPP application, Workplace Elements LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,996
- Utilities: $1
Business Information - Workplace Elements LLC in Denver, CO
2501 Blake St
Denver, CO 80205
Business Industry:
Other Building Finishing Contractors
NAICS code 238390
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: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Denver
In the Denver area, 8 businesses in the "Other Building Finishing Contractors" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 134) and received an average PPP loan of $297,443 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
D M Coburn LLC
Denver, CO
Otto Custom Builders
Denver, CO
Lionsbrood Enterprises LLC
Denver, CO
Cooper Properties, Inc
Denver, CO
Elizabeth Reinig
Denver, CO
The Friendly Neighborhood Gutter Guy
Denver, CO
Energy Smart Door Systems, LLC
Denver, CO
Industry PPP Comparison Statistics
Nationwide, 15,182 businesses in the "Other Building Finishing Contractors" industry received a total of $1.26B 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, 94% lower than Workplace Elements LLC's reported 134 employees, and received an average PPP loan of $83,209, 96% lower than this company's loan of $2M.
Workplace Elements, LLC
Entity: Limited Liability Company (LLC)
Industry: Furniture Merchant Wholesalers
Location: Denver, CO
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Workplace Elements, LLC is a limited liability company (LLC) located at 2501 Blake Street in Denver, Colorado that received a Coronavirus-related PPP loan from the SBA of $2,441,100.00 in April, 2020.
$
PPP Loan Information
Loan #5660187109
Loan Size:
Jobs Retained:
178Loan Approved:
2020-04-13Loan Status:
Paid in Full or ForgivenLender:
BOKF, National AssociationWorkplace Elements, LLC in Denver, CO received a Paycheck Protection Loan of $2.44M through BOKF, 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, Workplace Elements, LLC's 2019 payroll expenses are estimated to be at least $11.72M.
Based on their reported 178 jobs retained, this equals an estimated average yearly compensation of $65,827 per employee1
Reported PPP Proceed Usage:
On the PPP application, Workplace Elements, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,441,100
Business Information - Workplace Elements, LLC in Denver, CO
2501 Blake Street
Denver, CO 80205
Business Industry:
Furniture Merchant Wholesalers
NAICS code 423210
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: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Denver
In the Denver area, 7 businesses in the "Furniture Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 178) and received an average PPP loan of $480,073 (compared to this company's $2.44M).
Similar Nearby Businesses Who Received PPP Funding:
Front Range Furnishings LLC
Denver, CO
Source Four Inc
Denver, CO
Design Wright
Denver, CO
Colorado Classics Furniture & Design Inc
Denver, CO
Ercol USA Inc
Denver, CO
Merchants Office Furniture
Denver, CO
Industry PPP Comparison Statistics
Nationwide, 5,183 businesses in the "Furniture Merchant Wholesalers" industry received a total of $678.92M 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 11 employees, 94% lower than Workplace Elements, LLC's reported 178 employees, and received an average PPP loan of $130,989, 95% lower than this company's loan of $2.44M.
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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