PPP Loan Data — First National Title Company, Little Rock, AR
First National Title Company is a corporation located at 415 N. Mckinley St, Ste. 1200 in Little Rock, Arkansas that received a Coronavirus-related PPP loan from the SBA of $1,814,400.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
First National Title Company in Little Rock, AR received a Paycheck Protection Loan of $1.81M through Simmons 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 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, First National Title Company's 2019 payroll expenses are estimated to be at least $8.71M.
Based on their reported 194 jobs retained, this equals an estimated average yearly compensation of $44,892 per employee1
Reported PPP Proceed Usage:
On the PPP application, First National Title Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,654,569
- Utilities: $25,583
- Mortgage Interest: $36,951
- Rent: $97,297
Business Information - First National Title Company in Little Rock, AR
415 N. Mckinley St, Ste. 1200
Little Rock, AR 72205
Title Abstract and Settlement Offices
NAICS code 541191
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, 5,533 businesses in the "Title Abstract and Settlement Offices" industry received a total of $500.83M 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 8 employees, 96% lower than First National Title Company's reported 194 employees, and received an average PPP loan of $90,517, 95% lower than this company's loan of $1.81M.
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Footnotes & Information
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