PPP Loan Data — OM Design, Dallas, TX
OM Design is a sole proprietorship located at 8140 Walnut Hill Lane Suite 530 in Dallas, Texas that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in August, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Texas Security Bank
OM Design in Dallas, TX received a Paycheck Protection Loan of $24,900 through Texas Security Bank, which was approved in August, 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, OM Design's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,760 per employee1
Reported PPP Proceed Usage:
On the PPP application, OM Design reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,675
- Rent: $6,225
Business Information - OM Design in Dallas, TX
8140 Walnut Hill Lane Suite 530
Dallas, TX 75231
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Dallas
In the Dallas area, 162 businesses in the "All Other Personal Services" 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 $24,183 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Viantrenique Le Juann Adkison
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 50% higher than OM Design's reported 2 employees, and received an average PPP loan of $23,676, 5% lower than this company's loan of $24,900.
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Footnotes & Information
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