PPP Loan Data — M&S Tooling Inc, Emory, TX
M&S Tooling Inc is a corporation located at 455 Rs County Rd 3250 in Emory, Texas that received a Coronavirus-related PPP loan from the SBA of $46,485.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The City National Bank of Sulphur Springs
M&S Tooling Inc in Emory, TX received a Paycheck Protection Loan of $46,485 through The City National Bank of Sulphur Springs, 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 March, 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, M&S Tooling Inc's 2019 payroll expenses are estimated to be at least $223,128.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,626 per employee1
Reported PPP Proceed Usage:
On the PPP application, M&S Tooling Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,485
Business Information - M&S Tooling Inc in Emory, TX
455 Rs County Rd 3250
Emory, TX 75440
Alumina Refining and Primary Aluminum Production
NAICS code 331313
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Emory
In the Emory area, 2 businesses in the "Alumina Refining and Primary Aluminum Production" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 5) and received an average PPP loan of $64,986 (compared to this company's $46,485).
Similar Nearby Businesses Who Received PPP Funding:
M & S Tooling Inc
Industry PPP Comparison Statistics
Nationwide, 165 businesses in the "Alumina Refining and Primary Aluminum Production" industry received a total of $81.24M 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 45 employees, 800% higher than M&S Tooling Inc's reported 5 employees, and received an average PPP loan of $492,373, 959% higher than this company's loan of $46,485.
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Footnotes & Information
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