PPP Loan Data — May Tree Service, Bedford, TX
May Tree Service is a sole proprietorship located at 3325 Meadow Wood Ln in Bedford, Texas that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a White owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
May Tree Service in Bedford, TX received a Paycheck Protection Loan of $25,000 through Bank of America, National Association, which was approved in May, 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, May Tree Service's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, May Tree Service reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - May Tree Service in Bedford, TX
3325 Meadow Wood Ln
Bedford, TX 76021
NAICS code 561730
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bedford
In the Bedford area, 21 businesses in the "Landscaping Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 5) and received an average PPP loan of $15,726 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Lion Landscapes, LLC
Burnell & Sons Services LLC
Calvary Landscaping And Irrigation Inc
Harness Land Services
Industry PPP Comparison Statistics
Nationwide, 138,585 businesses in the "Landscaping Services" industry received a total of $6.03B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, the same amount reported by May Tree Service and received an average PPP loan of $43,486, 74% higher than this company's loan of $25,000.
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Footnotes & Information
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