PPP Loan Data — Lantern House, Inc, Wichita Falls, TX
Lantern House, Inc is a corporation located at 3515 Mcniel Ave in Wichita Falls, Texas that received a Coronavirus-related PPP loan from the SBA of $46,600.00 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:Ongoing Loan
Lender:American National Bank & Trust
Lantern House, Inc in Wichita Falls, TX received a Paycheck Protection Loan of $46,600 through American National Bank & Trust, 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, Lantern House, Inc's 2019 payroll expenses are estimated to be at least $223,680.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,736 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lantern House, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,600
Business Information - Lantern House, Inc in Wichita Falls, TX
3515 Mcniel Ave
Wichita Falls, TX 76308
NAICS code 444110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Wichita Falls
In the Wichita Falls area, 2 businesses in the "Home Centers" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 5) and received an average PPP loan of $32,450 (compared to this company's $46,600).
Similar Nearby Businesses Who Received PPP Funding:
Wichita Falls Ace Hardware LLC
Wichita Falls, TX
Industry PPP Comparison Statistics
Nationwide, 3,151 businesses in the "Home Centers" industry received a total of $435M 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, 200% higher than Lantern House, Inc's reported 5 employees, and received an average PPP loan of $138,053, 196% higher than this company's loan of $46,600.
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Footnotes & Information
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