PPP Loan Data — CTO Telecom LLC, Copper Canyon, TX
CTO Telecom LLC is a limited liability company (LLC) located at 820 Waite Dr in Copper Canyon, Texas that received a Coronavirus-related PPP loan from the SBA of $25,426.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Lone Star Capital Bank, National Association
CTO Telecom LLC in Copper Canyon, TX received a Paycheck Protection Loan of $25,426 through Lone Star Capital Bank, National Association, which was approved in May, 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 February, 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, CTO Telecom LLC's 2019 payroll expenses are estimated to be at least $122,045.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,023 per employee1
Reported PPP Proceed Usage:
On the PPP application, CTO Telecom LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,426
Business Information - CTO Telecom LLC in Copper Canyon, TX
820 Waite Dr
Copper Canyon, TX 75077
Computer Facilities Management Services
NAICS code 541513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,511 businesses in the "Computer Facilities Management Services" industry received a total of $425.97M 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 9 employees, 350% higher than CTO Telecom LLC's reported 2 employees, and received an average PPP loan of $121,326, 377% higher than this company's loan of $25,426.
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Footnotes & Information
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