PPP Loan Data — Great American Title Of Houston, LLC, Spring, TX
Great American Title Of Houston, LLC is a limited liability company (LLC) located at 5910 Fm 2920 Rd in Spring, Texas that received a Coronavirus-related PPP loan from the SBA of $1,740,722.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Financial Bank, National Association
Great American Title Of Houston, LLC in Spring, TX received a Paycheck Protection Loan of $1.74M through First Financial Bank, National Association, 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, Great American Title Of Houston, LLC's 2019 payroll expenses are estimated to be at least $8.36M.
Based on their reported 133 jobs retained, this equals an estimated average yearly compensation of $62,823 per employee1
Reported PPP Proceed Usage:
On the PPP application, Great American Title Of Houston, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,305,541
- Utilities: $435,181
Business Information - Great American Title Of Houston, LLC in Spring, TX
5910 Fm 2920 Rd
Spring, TX 77388
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, 94% lower than Great American Title Of Houston, LLC's reported 133 employees, and received an average PPP loan of $90,517, 95% lower than this company's loan of $1.74M.
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Footnotes & Information
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