PPP Loan Data — Palmer Distribution Services, Inc, Pasadena, TX
Palmer Distribution Services, Inc is a corporation located at 13001 Bay Area Blvd in Pasadena, Texas that received a Coronavirus-related PPP loan from the SBA of $2,550,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Palmer Distribution Services, Inc in Pasadena, TX received a Paycheck Protection Loan of $2.55M through Frost Bank, 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, Palmer Distribution Services, Inc's 2019 payroll expenses are estimated to be at least $12.24M.
Based on their reported 254 jobs retained, this equals an estimated average yearly compensation of $48,204 per employee1
Reported PPP Proceed Usage:
On the PPP application, Palmer Distribution Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,550,800
Business Information - Palmer Distribution Services, Inc in Pasadena, TX
13001 Bay Area Blvd
Pasadena, TX 77507
General Warehousing and Storage
NAICS code 493110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Pasadena
In the Pasadena area, 2 businesses in the "General Warehousing and Storage" industry received a PPP loan. These local businesses reported an average of 133 employees (compared to this company's 254) and received an average PPP loan of $1,320,535 (compared to this company's $2.55M).
Similar Nearby Businesses Who Received PPP Funding:
Triton Cargo Logistics Inc
Industry PPP Comparison Statistics
Nationwide, 4,995 businesses in the "General Warehousing and Storage" industry received a total of $771.67M 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 17 employees, 93% lower than Palmer Distribution Services, Inc's reported 254 employees, and received an average PPP loan of $154,488, 94% lower than this company's loan of $2.55M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!