PPP Loan Data — JMC Welding & Erection Services LLC, La Grange, TX
JMC Welding & Erection Services LLC is a limited liability company (LLC) located at 6040 Mueller Rd in La Grange, Texas that received a Coronavirus-related PPP loan from the SBA of $25,063.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:National Bank & Trust
JMC Welding & Erection Services LLC in La Grange, TX received a Paycheck Protection Loan of $25,063 through National Bank & Trust, 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 November, 2020.
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, JMC Welding & Erection Services LLC's 2019 payroll expenses are estimated to be at least $120,302.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,151 per employee1
Reported PPP Proceed Usage:
On the PPP application, JMC Welding & Erection Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,063
Business Information - JMC Welding & Erection Services LLC in La Grange, TX
6040 Mueller Rd
La Grange, TX 78945
Structural Steel and Precast Concrete Contractors
NAICS code 238120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near La Grange
In the La Grange area, 3 businesses in the "Structural Steel and Precast Concrete Contractors" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 2) and received an average PPP loan of $53,638 (compared to this company's $25,063).
Similar Nearby Businesses Who Received PPP Funding:
Ronald E Hunt
La Grange, TX
General Erectors LTD
La Grange, TX
Industry PPP Comparison Statistics
Nationwide, 3,902 businesses in the "Structural Steel and Precast Concrete Contractors" 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 20 employees, 900% higher than JMC Welding & Erection Services LLC's reported 2 employees, and received an average PPP loan of $260,319, 939% higher than this company's loan of $25,063.
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Footnotes & Information
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