PPP Loan Data — Norman Patten & Assoicates, Cedar Hill, TX
Norman Patten & Assoicates is a sole proprietorship located at 413 Cedar St in Cedar Hill, Texas that received a Coronavirus-related PPP loan from the SBA of $25,500.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens National Bank of Texas
Norman Patten & Assoicates in Cedar Hill, TX received a Paycheck Protection Loan of $25,500 through Citizens National Bank of Texas, 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 December, 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, Norman Patten & Assoicates' 2019 payroll expenses are estimated to be at least $122,400.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Norman Patten & Assoicates reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,500
Business Information - Norman Patten & Assoicates in Cedar Hill, TX
413 Cedar St
Cedar Hill, TX 75104
Direct Property and Casualty Insurance Carriers
NAICS code 524126
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cedar Hill
In the Cedar Hill area, 3 businesses in the "Direct Property and Casualty Insurance Carriers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $26,533 (compared to this company's $25,500).
Similar Nearby Businesses Who Received PPP Funding:
CPI Bonding Company, PC
Cedar Hill, TX
Norman Patten & Associates
Cedar Hill, TX
Industry PPP Comparison Statistics
Nationwide, 5,686 businesses in the "Direct Property and Casualty Insurance Carriers" industry received a total of $400.58M 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 6 employees, 200% higher than Norman Patten & Assoicates' reported 2 employees, and received an average PPP loan of $70,450, 176% higher than this company's loan of $25,500.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!