PPP Loan Data — COX Financial Group, LLC, Hudson Oaks, TX
COX Financial Group, LLC is a limited liability company (LLC) located at 3115 Fort Worth Hwy,ste 300 in Hudson Oaks, Texas that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank of Weatherford d/b/a First Bank Texas
COX Financial Group, LLC in Hudson Oaks, TX received a Paycheck Protection Loan of $47,000 through First National Bank of Weatherford d/b/a First Bank Texas, 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 December, 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, COX Financial Group, LLC's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $45,120 per employee1
Reported PPP Proceed Usage:
On the PPP application, COX Financial Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,000
Business Information - COX Financial Group, LLC in Hudson Oaks, TX
3115 Fort Worth Hwy,ste 300
Hudson Oaks, TX 76087
NAICS code 523920
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Hudson Oaks
In the Hudson Oaks area, 7 businesses in the "Portfolio Management" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $39,872 (compared to this company's $47,000).
Similar Nearby Businesses Who Received PPP Funding:
Thompson Strategies, LLC
Barron Wealth Advisors LLC
Day Wealth Management
Industry PPP Comparison Statistics
Nationwide, 6,153 businesses in the "Portfolio Management" industry received a total of $512.81M 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 6 employees, 20% higher than COX Financial Group, LLC's reported 5 employees, and received an average PPP loan of $83,343, 77% higher than this company's loan of $47,000.
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Footnotes & Information
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