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PPP Loan Data — JM Supply Co, Corpus Christi, TX

SBA PPP loan data, payroll data, and salaries for JM Supply Co
TX

JM Supply Co

Entity: Corporation

Industry: Industrial Supplies Merchant Wholesalers

Location: Corpus Christi, TX

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JM Supply Co is a corporation located at 2801 Buffalo St in Corpus Christi, Texas that received a Coronavirus-related PPP loan from the SBA of $371,700.00 in April, 2020.

$ PPP Loan Information
Loan #9598657202

Loan Size:

$371,700

Jobs Retained:

26

Loan Approved:

2020-04-28

Loan Status:

Paid in Full or Forgiven

Lender:

Frost Bank

JM Supply Co in Corpus Christi, TX received a Paycheck Protection Loan of $371,700 through Frost 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 July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, JM Supply Co's 2019 payroll expenses are estimated to be at least $1.78M.

Based on their reported 26 jobs retained, this equals an estimated average yearly compensation of $68,622 per employee1

Reported PPP Proceed Usage:

On the PPP application, JM Supply Co reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $371,700

Business Information - JM Supply Co in Corpus Christi, TX

JM Supply Co
2801 Buffalo St
Corpus Christi, TX 78408

Business Industry:
Industrial Supplies Merchant Wholesalers
NAICS code 423840

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Nueces County, TX — SBA Office 0639 — Congressional District: TX-27

Similar Companies near Corpus Christi

In the Corpus Christi area, 9 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 26) and received an average PPP loan of $126,492 (compared to this company's $371,700).

Industry PPP Comparison Statistics

Nationwide, 6,361 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $1.02B 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 13 employees, 50% lower than JM Supply Co's reported 26 employees, and received an average PPP loan of $160,987, 57% lower than this company's loan of $371,700.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/jm-supply-co-corpus-christi-tx