PPP Loan Data — R Lacy Services LTD, Longview, TX
R Lacy Services LTD is a limited liability partnership located at 222 East Tyler St in Longview, Texas that received a Coronavirus-related PPP loan from the SBA of $1,612,517.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Texas Bank and Trust Company
R Lacy Services LTD in Longview, TX received a Paycheck Protection Loan of $1.61M through Texas Bank and Trust Company, 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 January, 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, R Lacy Services LTD's 2019 payroll expenses are estimated to be at least $7.74M.
Based on their reported 78 jobs retained, this equals an estimated average yearly compensation of $99,232 per employee1
Reported PPP Proceed Usage:
On the PPP application, R Lacy Services LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,612,517
Business Information - R Lacy Services LTD in Longview, TX
222 East Tyler St
Longview, TX 75601
Offices of Other Holding Companies
NAICS code 551112
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Longview
In the Longview area, 2 businesses in the "Offices of Other Holding Companies" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 78) and received an average PPP loan of $878,095 (compared to this company's $1.61M).
Similar Nearby Businesses Who Received PPP Funding:
Allison Avenue Corporation
Industry PPP Comparison Statistics
Nationwide, 12,536 businesses in the "Offices of Other Holding Companies" industry received a total of $1.56B 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 13 employees, 83% lower than R Lacy Services LTD's reported 78 employees, and received an average PPP loan of $124,396, 92% lower than this company's loan of $1.61M.
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Footnotes & Information
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