PPP Loan Data — Kenneth Fox Supply Company, Mcallen, TX
Kenneth Fox Supply Company is a corporation located at 2200 Fox Dr in Mcallen, Texas that received a Coronavirus-related PPP loan from the SBA of $2,114,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 276 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Kenneth Fox Supply Company in Mcallen, TX received a Paycheck Protection Loan of $2.11M through Frost Bank, which was approved in April, 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, Kenneth Fox Supply Company's 2019 payroll expenses are estimated to be at least $10.15M.
Based on their reported 276 jobs retained, this equals an estimated average yearly compensation of $36,765 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kenneth Fox Supply Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,114,000
Business Information - Kenneth Fox Supply Company in Mcallen, TX
2200 Fox Dr
Mcallen, TX 78504
Textile Bag and Canvas Mills
NAICS code 314910
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Mcallen
In the Mcallen area, 2 businesses in the "Textile Bag and Canvas Mills" industry received a PPP loan. These local businesses reported an average of 139 employees (compared to this company's 276) and received an average PPP loan of $1,061,318 (compared to this company's $2.11M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 961 businesses in the "Textile Bag and Canvas Mills" industry received a total of $126M 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 15 employees, 95% lower than Kenneth Fox Supply Company's reported 276 employees, and received an average PPP loan of $131,115, 94% lower than this company's loan of $2.11M.
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Footnotes & Information
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