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PPP Loan Data — Barron Service Parts Co,
Odessa, TX
Barron Service Parts Co
Entity: Corporation
Industry: Motor Vehicle Supplies and New Parts Merchant Wholesalers
Location: Odessa, TX
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Barron Service Parts Co is a corporation located at 409 E 2nd St in Odessa, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 251 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9223938301
Loan Size:
Jobs Retained:
251Loan Approved:
2021-01-30Loan Status:
Paid in Full or ForgivenLender:
Frost BankBarron Service Parts Co in Odessa, TX received a Paycheck Protection Loan of $2M through Frost Bank, 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 November, 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, Barron Service Parts Co's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 251 jobs retained, this equals an estimated average yearly compensation of $38,247 per employee1
Reported PPP Proceed Usage:
On the PPP application, Barron Service Parts Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Barron Service Parts Co in Odessa, TX
409 E 2nd St
Odessa, TX 79761
Business Industry:
Motor Vehicle Supplies and New Parts Merchant Wholesalers
NAICS code 423120
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Odessa
In the Odessa area, 5 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 102 employees (compared to this company's 251) and received an average PPP loan of $978,467 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Lone Star Motoring LLC
Odessa, TX
Gresham's Industrial Supply Inc
Odessa, TX
United Fleet Sales LLC
Odessa, TX
Industry PPP Comparison Statistics
Nationwide, 5,707 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a total of $787.78M 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 14 employees, 94% lower than Barron Service Parts Co's reported 251 employees, and received an average PPP loan of $138,037, 93% lower than this company's loan of $2M.
Barron Service Parts Co
Entity: Corporation
Industry: Motor Vehicle Supplies and New Parts Merchant Wholesalers
Location: Odessa, TX
Tweet This
•
Search All PPP Data
Barron Service Parts Co is a corporation located at 409 E 2nd St in Odessa, Texas that received a Coronavirus-related PPP loan from the SBA of $2,633,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 244 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9303697000
Loan Size:
Jobs Retained:
244Loan Approved:
2020-04-09Loan Status:
Paid in Full or ForgivenLender:
Frost BankBarron Service Parts Co in Odessa, TX received a Paycheck Protection Loan of $2.63M through Frost Bank, 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, Barron Service Parts Co's 2019 payroll expenses are estimated to be at least $12.64M.
Based on their reported 244 jobs retained, this equals an estimated average yearly compensation of $51,801 per employee1
Reported PPP Proceed Usage:
On the PPP application, Barron Service Parts Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,633,200
Business Information - Barron Service Parts Co in Odessa, TX
409 E 2nd St
Odessa, TX 79761
Business Industry:
Motor Vehicle Supplies and New Parts Merchant Wholesalers
NAICS code 423120
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Odessa
In the Odessa area, 5 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 102 employees (compared to this company's 244) and received an average PPP loan of $978,467 (compared to this company's $2.63M).
Similar Nearby Businesses Who Received PPP Funding:
Lone Star Motoring LLC
Odessa, TX
Gresham's Industrial Supply Inc
Odessa, TX
United Fleet Sales LLC
Odessa, TX
Industry PPP Comparison Statistics
Nationwide, 5,707 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a total of $787.78M 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 14 employees, 94% lower than Barron Service Parts Co's reported 244 employees, and received an average PPP loan of $138,037, 95% lower than this company's loan of $2.63M.
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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