PPP Loan Data — CTL Corp, Iredell, TX
Entity: Subchapter S Corporation
Location: Iredell, TXTweet This • Search All PPP Data
CTL Corp is a subchapter s corporation located at 7699 County Road 218 in Iredell, Texas that received a Coronavirus-related PPP loan from the SBA of $1,734,946.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Financial Bank, National Association
CTL Corp in Iredell, TX received a Paycheck Protection Loan of $1.73M through First Financial Bank, National Association, 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, CTL Corp's 2019 payroll expenses are estimated to be at least $8.33M.
Based on their reported 92 jobs retained, this equals an estimated average yearly compensation of $90,519 per employee1
Reported PPP Proceed Usage:
On the PPP application, CTL Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,301,210
- Utilities: $433,737
Business Information - CTL Corp in Iredell, TX
7699 County Road 218
Iredell, TX 76649
Administrative Management and General Management Consulting Services
NAICS code 541611
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 94,773 businesses in the "Administrative Management and General Management Consulting Services" industry received a total of $5.51B 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 5 employees, 95% lower than CTL Corp's reported 92 employees, and received an average PPP loan of $58,139, 97% lower than this company's loan of $1.73M.
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Footnotes & Information
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