PPP Loan Data — Gracieone Limited Liability Company, Dallas, TX
Gracieone Limited Liability Company is a limited liability company (LLC) located at 4110 Lovers Ln in Dallas, Texas that received a Coronavirus-related PPP loan from the SBA of $25,005.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Gracieone Limited Liability Company in Dallas, TX received a Paycheck Protection Loan of $25,005 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Gracieone Limited Liability Company's 2019 payroll expenses are estimated to be at least $120,024.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,004 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gracieone Limited Liability Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $16,505
- Utilities: $1,000
- Rent: $7,500
Business Information - Gracieone Limited Liability Company in Dallas, TX
4110 Lovers Ln
Dallas, TX 75225
Direct Property and Casualty Insurance Carriers
NAICS code 524126
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Dallas
In the Dallas area, 2 businesses in the "Direct Property and Casualty Insurance Carriers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $22,919 (compared to this company's $25,005).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 5,686 businesses in the "Direct Property and Casualty Insurance Carriers" industry received a total of $400.58M 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 6 employees, the same amount reported by Gracieone Limited Liability Company and received an average PPP loan of $70,450, 182% higher than this company's loan of $25,005.
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Footnotes & Information
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