PPP Loan Data — Explore Equipment Rental, Inc, Beaumont, TX
Explore Equipment Rental, Inc
Location: Beaumont, TXTweet This • Search All PPP Data
Explore Equipment Rental, Inc is a corporation located at 4820 Stone Oak Dr Suite A in Beaumont, Texas that received a Coronavirus-related PPP loan from the SBA of $47,041.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The First Liberty National Bank
Explore Equipment Rental, Inc in Beaumont, TX received a Paycheck Protection Loan of $47,041 through The First Liberty National Bank, 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 March, 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, Explore Equipment Rental, Inc's 2019 payroll expenses are estimated to be at least $225,797.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $45,159 per employee1
Reported PPP Proceed Usage:
On the PPP application, Explore Equipment Rental, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,041
Business Information - Explore Equipment Rental, Inc in Beaumont, TX
4820 Stone Oak Dr Suite A
Beaumont, TX 77705
Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing
NAICS code 532412
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Beaumont
In the Beaumont area, 4 businesses in the "Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $49,126 (compared to this company's $47,041).
Similar Nearby Businesses Who Received PPP Funding:
Williams Redtop Construction LLC
Industry PPP Comparison Statistics
Nationwide, 14,805 businesses in the "Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing" industry received a total of $864.06M 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 4 employees, 20% lower than Explore Equipment Rental, Inc's reported 5 employees, and received an average PPP loan of $58,363, 24% higher than this company's loan of $47,041.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!