PPP Loan Data — H & H Timber Co Inc, Newton, TX
H & H Timber Co Inc is a corporation located at 550 Fm 1012 in Newton, Texas that received a Coronavirus-related PPP loan from the SBA of $45,805.00 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:Sabine State Bank & Trust Company
H & H Timber Co Inc in Newton, TX received a Paycheck Protection Loan of $45,805 through Sabine State Bank & Trust Company, 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, H & H Timber Co Inc's 2019 payroll expenses are estimated to be at least $219,864.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $43,973 per employee1
Reported PPP Proceed Usage:
On the PPP application, H & H Timber Co Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,805
Business Information - H & H Timber Co Inc in Newton, TX
550 Fm 1012
Newton, TX 75966
NAICS code 113310
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Newton
In the Newton area, 12 businesses in the "Logging" 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 $45,548 (compared to this company's $45,805).
Similar Nearby Businesses Who Received PPP Funding:
DDE Transport LLC
Lafitte Harvesting LP
Davis Timber Co., Inc
Marlin Rodrigues DBA Rodrigues And Sons Logging
Willis Cole Morgan ENT. LLC
Industry PPP Comparison Statistics
Nationwide, 12,498 businesses in the "Logging" industry received a total of $628.53M 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 5 employees, the same amount reported by H & H Timber Co Inc and received an average PPP loan of $50,291, 10% higher than this company's loan of $45,805.
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Footnotes & Information
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