PPP Loan Data — Ribmasters Inc, Whitehouse, TX
Ribmasters Inc is a subchapter s corporation located at 803 Hwy 110 North in Whitehouse, Texas that received a Coronavirus-related PPP loan from the SBA of $25,248.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Ribmasters Inc in Whitehouse, TX received a Paycheck Protection Loan of $25,248 through Altra FCU, 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 February, 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, Ribmasters Inc's 2019 payroll expenses are estimated to be at least $121,190.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,198 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ribmasters Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,248
Business Information - Ribmasters Inc in Whitehouse, TX
803 Hwy 110 North
Whitehouse, TX 75791
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Whitehouse
In the Whitehouse area, 18 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 6) and received an average PPP loan of $62,612 (compared to this company's $25,248).
Similar Nearby Businesses Who Received PPP Funding:
Ribtown Stevie Blues BBQ Inc
DC's Fried Ribs
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 267% higher than Ribmasters Inc's reported 6 employees, and received an average PPP loan of $129,504, 413% higher than this company's loan of $25,248.
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Footnotes & Information
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