PPP Loan Data — Moore Time Clocks, Incorporated, Spring, TX
Moore Time Clocks, Incorporated
Location: Spring, TXTweet This • Search All PPP Data
Moore Time Clocks, Incorporated is a corporation located at 202a Main Street in Spring, Texas that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Moore Time Clocks, Incorporated in Spring, TX received a Paycheck Protection Loan of $25,000 through Customers Bank, 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 June, 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, Moore Time Clocks, Incorporated's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Moore Time Clocks, Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Moore Time Clocks, Incorporated in Spring, TX
202a Main Street
Spring, TX 77373
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
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 Spring
In the Spring area, 78 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 6) and received an average PPP loan of $18,224 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Dirkera Leon Guerrero
Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B 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 4 employees, 33% lower than Moore Time Clocks, Incorporated's reported 6 employees, and received an average PPP loan of $34,329, 37% higher than this company's loan of $25,000.
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Footnotes & Information
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