PPP Loan Data — Packaging Service Co,, Inc, Pearland, TX
Packaging Service Co,, Inc
Entity: Subchapter S Corporation
Location: Pearland, TXTweet This • Search All PPP Data
Packaging Service Co,, Inc is a subchapter s corporation located at 1904 Mykawa in Pearland, Texas that received a Coronavirus-related PPP loan from the SBA of $1,825,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Zions Bank, A Division of
Packaging Service Co,, Inc in Pearland, TX received a Paycheck Protection Loan of $1.83M through Zions Bank, A Division of, which was approved in April, 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, Packaging Service Co,, Inc's 2019 payroll expenses are estimated to be at least $8.76M.
Based on their reported 118 jobs retained, this equals an estimated average yearly compensation of $74,241 per employee1
Reported PPP Proceed Usage:
On the PPP application, Packaging Service Co,, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,825,100
Business Information - Packaging Service Co,, Inc in Pearland, TX
Pearland, TX 77581
Other Chemical and Allied Products Merchant Wholesalers
NAICS code 424690
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Pearland
In the Pearland area, 2 businesses in the "Other Chemical and Allied Products Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 118) and received an average PPP loan of $952,050 (compared to this company's $1.83M).
Similar Nearby Businesses Who Received PPP Funding:
Steadham Trucking Co
Mont Belvieu, TX
Industry PPP Comparison Statistics
Nationwide, 3,270 businesses in the "Other Chemical and Allied Products Merchant Wholesalers" industry received a total of $509.15M 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 12 employees, 90% lower than Packaging Service Co,, Inc's reported 118 employees, and received an average PPP loan of $155,704, 91% lower than this company's loan of $1.83M.
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