PPP Loan Data — Abel Equipment Co., Garland, TX
Abel Equipment Co.
Location: Garland, TXTweet This • Search All PPP Data
Abel Equipment Co. is a corporation located at 3710 Cavalier Drive in Garland, Texas that received a Coronavirus-related PPP loan from the SBA of $59,100.00 in April, 2020.
$ PPP Loan Information
Lender:NORTH DALLAS BANK & TRUST COMPANY
Abel Equipment Co. received a Paycheck Protection Loan of $59,100 through NORTH DALLAS BANK & TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Abel Equipment Co.'s total 2019 payroll expenses were approximately $283,680 in order to qualify for the PPP loan amount received.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $47,280 per employee1.
Business Information - Abel Equipment Co. in Garland, TX
3710 Cavalier Drive
Garland, TX 75042
Industrial Machinery and Equipment Merchant Wholesalers (NAICS code 423830)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-32
Similar Companies near Garland
In the Garland area, 5 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 6) and received an average PPP loan of $675,713 (compared to this company's $59,100).
Similar Nearby Businesses Who Received PPP Funding:
Iron Horse Safety Specialties, LP
Lonestar Forklift 2017 USA, Inc
Baketex Of Dallas, LLC
Industry PPP Comparison Statistics
Nationwide, 7,320 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $1,713,685,837.00 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 15 employees, 150% higher than Abel Equipment Co.'s reported 6 employees, and received an average PPP loan of $234,110, 296% higher than this company's loan of $59,100.
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. 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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