PPP Loan Data — Demaris Hart, Texarkana, TX
Demaris Hart is a sole proprietorship located at 5902 Summerfield Dr in Texarkana, Texas that received a Coronavirus-related PPP loan from the SBA of $25,135.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Commercial National Bank of Texarkana
Demaris Hart in Texarkana, TX received a Paycheck Protection Loan of $25,135 through Commercial National Bank of Texarkana, 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, Demaris Hart's 2019 payroll expenses are estimated to be at least $120,648.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,324 per employee1
Reported PPP Proceed Usage:
On the PPP application, Demaris Hart reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,135
Business Information - Demaris Hart in Texarkana, TX
5902 Summerfield Dr
Texarkana, TX 75503
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Texarkana
In the Texarkana area, 49 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 2) and received an average PPP loan of $58,279 (compared to this company's $25,135).
Similar Nearby Businesses Who Received PPP Funding:
Capshaw Green PLLC
Bobby Howell DBA Law Offices Of Bobby Howell
Miller James Miller & Hornsby LLP
Morgan Cook & Beck LLP
Cary G. Rochelle
Industry PPP Comparison Statistics
Nationwide, 200,895 businesses in the "Offices of Lawyers" industry received a total of $16.38B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 200% higher than Demaris Hart's reported 2 employees, and received an average PPP loan of $81,518, 224% higher than this company's loan of $25,135.
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Footnotes & Information
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