PPP Loan Data — Frazier & Frazier Industries, Inc, Coolidge, TX
Frazier & Frazier Industries, Inc is a corporation located at 817 S 1st St in Coolidge, Texas that received a Coronavirus-related PPP loan from the SBA of $1,521,500.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 151 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Pioneer Bank, SSB
Frazier & Frazier Industries, Inc in Coolidge, TX received a Paycheck Protection Loan of $1.52M through Pioneer Bank, SSB, 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 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, Frazier & Frazier Industries, Inc's 2019 payroll expenses are estimated to be at least $7.3M.
Based on their reported 151 jobs retained, this equals an estimated average yearly compensation of $48,366 per employee1
Reported PPP Proceed Usage:
On the PPP application, Frazier & Frazier Industries, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,521,500
Business Information - Frazier & Frazier Industries, Inc in Coolidge, TX
817 S 1st St
Coolidge, TX 76635
NAICS code 331511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Coolidge
In the Coolidge area, 2 businesses in the "Iron Foundries" industry received a PPP loan. These local businesses reported an average of 143 employees (compared to this company's 151) and received an average PPP loan of $1,392,462 (compared to this company's $1.52M).
Similar Nearby Businesses Who Received PPP Funding:
Frazier & Frazier In
Industry PPP Comparison Statistics
Nationwide, 305 businesses in the "Iron Foundries" industry received a total of $172.8M 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 48 employees, 68% lower than Frazier & Frazier Industries, Inc's reported 151 employees, and received an average PPP loan of $566,545, 63% lower than this company's loan of $1.52M.
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Footnotes & Information
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