PPP Loan Data — Chavez Mexican Foods Inc, Haslet, TX
Chavez Mexican Foods Inc is a subchapter s corporation located at 12817 Whisper Willows Dr in Haslet, Texas that received a Coronavirus-related PPP loan from the SBA of $1,516,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Chavez Mexican Foods Inc in Haslet, TX received a Paycheck Protection Loan of $1.52M through Pinnacle 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 May, 2021.
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, Chavez Mexican Foods Inc's 2019 payroll expenses are estimated to be at least $7.28M.
Based on their reported 272 jobs retained, this equals an estimated average yearly compensation of $26,765 per employee1
Reported PPP Proceed Usage:
On the PPP application, Chavez Mexican Foods Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,516,700
Business Information - Chavez Mexican Foods Inc in Haslet, TX
12817 Whisper Willows Dr
Haslet, TX 76052
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Haslet
In the Haslet area, 129 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 272) and received an average PPP loan of $276,097 (compared to this company's $1.52M).
Similar Nearby Businesses Who Received PPP Funding:
YAO Hau Corporation
Carrizal Brothers, Inc
EZB Restaurants, Inc
Main Street Bread Baking Co LLC
Waffle Way Restaurant LLC
Grapevine Restaurant Ventures, LP
BMF Dragon LLC
Magarin's Restuarant Group LLC
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 92% lower than Chavez Mexican Foods Inc's reported 272 employees, and received an average PPP loan of $129,504, 91% lower than this company's loan of $1.52M.
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Footnotes & Information
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