PPP Loan Data — Morrow Realty Co., Inc, Tuscaloosa, AL
Morrow Realty Co., Inc is a corporation located at 809 22nd Ave in Tuscaloosa, Alabama that received a Coronavirus-related PPP loan from the SBA of $1,657,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 169 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Cadence Bank, National Association
Morrow Realty Co., Inc in Tuscaloosa, AL received a Paycheck Protection Loan of $1.66M through Cadence Bank, 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 May, 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, Morrow Realty Co., Inc's 2019 payroll expenses are estimated to be at least $7.95M.
Based on their reported 169 jobs retained, this equals an estimated average yearly compensation of $47,063 per employee1
Reported PPP Proceed Usage:
On the PPP application, Morrow Realty Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,657,000
Business Information - Morrow Realty Co., Inc in Tuscaloosa, AL
809 22nd Ave
Tuscaloosa, AL 35401
Residential Property Managers
NAICS code 531311
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Tuscaloosa
In the Tuscaloosa area, 10 businesses in the "Residential Property Managers" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 169) and received an average PPP loan of $244,899 (compared to this company's $1.66M).
Similar Nearby Businesses Who Received PPP Funding:
Delview Properties, LLC
University Limited Properties
Druid City Properties, LLC
Blakeney Properties, LLC
Harless And Company LLC
Capstone Properties, LLC
Industry PPP Comparison Statistics
Nationwide, 36,628 businesses in the "Residential Property Managers" industry received a total of $3.05B 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, 95% lower than Morrow Realty Co., Inc's reported 169 employees, and received an average PPP loan of $83,394, 95% lower than this company's loan of $1.66M.
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Footnotes & Information
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