PPP Loan Data — Lara Family Land Company LLC, Carthage, TX
Lara Family Land Company LLC is a limited liability company (LLC) located at 212 N Adams St in Carthage, Texas that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:BTH Texas, National Association
Lara Family Land Company LLC in Carthage, TX received a Paycheck Protection Loan of $25,400 through BTH Texas, National Association, 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 April, 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, Lara Family Land Company LLC's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $8,709 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lara Family Land Company LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,050
- Utilities: $762
- Mortgage Interest: $508
- Rent: $5,080
Business Information - Lara Family Land Company LLC in Carthage, TX
212 N Adams St
Carthage, TX 75633
Drilling Oil and Gas Wells
NAICS code 213111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Carthage
In the Carthage area, 7 businesses in the "Drilling Oil and Gas Wells" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 14) and received an average PPP loan of $104,927 (compared to this company's $25,400).
Similar Nearby Businesses Who Received PPP Funding:
K And N Services And Trucking LLC
Colles Drilling Consulting LLC
K&N Services And Trucking LLC
Dependable Pressure Testers, Inc
Bagley Well Service
Industry PPP Comparison Statistics
Nationwide, 5,486 businesses in the "Drilling Oil and Gas Wells" industry received a total of $748.62M 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 9 employees, 36% lower than Lara Family Land Company LLC's reported 14 employees, and received an average PPP loan of $136,461, 437% higher than this company's loan of $25,400.
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Footnotes & Information
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