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PPP Loan Data — X1 Builders LLC,
Salt Lake City, UT
X1 Builders LLC
Entity: Limited Liability Company (LLC)
Industry: New Single-Family Housing Construction (except For-Sale Builders)
Location: Salt Lake City, UT
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X1 Builders LLC is a limited liability company (LLC) located at 1338 S Foothill Dr Pmb 120 in Salt Lake City, Utah that received a Coronavirus-related PPP loan from the SBA of $34,750.00 in February, 2021.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
$
PPP Loan Information
Loan #2763578506
Loan Size:
Jobs Retained:
3Loan Approved:
2021-02-22Loan Status:
Ongoing LoanLender:
Mountain America FCUX1 Builders LLC in Salt Lake City, UT received a Paycheck Protection Loan of $34,750 through Mountain America FCU, 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, X1 Builders LLC's 2019 payroll expenses are estimated to be at least $166,800.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $55,600 per employee1
Reported PPP Proceed Usage:
On the PPP application, X1 Builders LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,748
- Utilities: $1
Business Information - X1 Builders LLC in Salt Lake City, UT
1338 S Foothill Dr Pmb 120
Salt Lake City, UT 84108
Business Industry:
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as X1 Builders LLC.
King J LLC
New Single-Family Housing Construction (except For-Sale Builders)
Similar Companies near Salt Lake City
In the Salt Lake City area, 37 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 3) and received an average PPP loan of $196,397 (compared to this company's $34,750).
Similar Nearby Businesses Who Received PPP Funding:
Laura Jones DBA L&S Distribution
Salt Lake City, UT
GWS Inc
Salt Lake City, UT
Nonu Construction Inc
Salt Lake City, UT
Precision Homes LLC
Murray, UT
Jwright Companies Inc
Salt Lake City, UT
Western Chain Link Fence Company, Inc
Murray, UT
MIL Construction LLC
Murray, UT
Bryan Damon
Salt Lake City, UT
Rocky Mountain Construction And Development
Salt Lake City, UT
Industry PPP Comparison Statistics
Nationwide, 125,433 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.71B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 67% higher than X1 Builders LLC's reported 3 employees, and received an average PPP loan of $45,486, 31% higher than this company's loan of $34,750.
X1 Builders, LLC
Entity: Limited Liability Company (LLC)
Industry: New Single-Family Housing Construction (except For-Sale Builders)
Location: Salt Lake City, UT
Tweet This
•
Search All PPP Data
X1 Builders, LLC is a limited liability company (LLC) located at 1338 S. Foothill Dr., Suite 120 in Salt Lake City, Utah that received a Coronavirus-related PPP loan from the SBA of $34,800.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
$
PPP Loan Information
Loan #1748927309
Loan Size:
Jobs Retained:
3Loan Approved:
2020-04-28Loan Status:
Paid in Full or ForgivenLender:
Mountain America FCUX1 Builders, LLC in Salt Lake City, UT received a Paycheck Protection Loan of $34,800 through Mountain America FCU, 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, X1 Builders, LLC's 2019 payroll expenses are estimated to be at least $167,040.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $55,680 per employee1
Reported PPP Proceed Usage:
On the PPP application, X1 Builders, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,800
Business Information - X1 Builders, LLC in Salt Lake City, UT
1338 S. Foothill Dr., Suite 120
Salt Lake City, UT 84108
Business Industry:
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as X1 Builders, LLC.
King J, LLC
General Freight Trucking, Long-Distance, Truckload
Similar Companies near Salt Lake City
In the Salt Lake City area, 37 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 3) and received an average PPP loan of $196,397 (compared to this company's $34,800).
Similar Nearby Businesses Who Received PPP Funding:
Laura Jones DBA L&S Distribution
Salt Lake City, UT
GWS Inc
Salt Lake City, UT
Nonu Construction Inc
Salt Lake City, UT
Precision Homes LLC
Murray, UT
Jwright Companies Inc
Salt Lake City, UT
Western Chain Link Fence Company, Inc
Murray, UT
MIL Construction LLC
Murray, UT
Bryan Damon
Salt Lake City, UT
Rocky Mountain Construction And Development
Salt Lake City, UT
Industry PPP Comparison Statistics
Nationwide, 125,433 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.71B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 67% higher than X1 Builders, LLC's reported 3 employees, and received an average PPP loan of $45,486, 31% higher than this company's loan of $34,800.
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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