PPP Loan Data — Clint Morgan Trucking, Hughes Springs, TX
Clint Morgan Trucking
Entity: Sole Proprietorship
Location: Hughes Springs, TXTweet This • Search All PPP Data
Clint Morgan Trucking is a sole proprietorship located at 2004 Hwy 11 E in Hughes Springs, Texas that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The First National Bank of Hughes Springs
Clint Morgan Trucking in Hughes Springs, TX received a Paycheck Protection Loan of $25,200 through The First National Bank of Hughes Springs, which was approved in April, 2020.
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, Clint Morgan Trucking's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Clint Morgan Trucking reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Clint Morgan Trucking in Hughes Springs, TX
2004 Hwy 11 E
Hughes Springs, TX 75656
Specialized Freight (except Used Goods) Trucking, Long-Distance
NAICS code 484230
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Hughes Springs
In the Hughes Springs area, 3 businesses in the "Specialized Freight (except Used Goods) Trucking, Long-Distance" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $27,467 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Wounded Duck Trucking
Hughes Springs, TX
All Lanes Logistics, LLC
Industry PPP Comparison Statistics
Nationwide, 35,019 businesses in the "Specialized Freight (except Used Goods) Trucking, Long-Distance" industry received a total of $1.38B 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 3 employees, 50% higher than Clint Morgan Trucking's reported 2 employees, and received an average PPP loan of $39,377, 56% higher than this company's loan of $25,200.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!