PPP Loan Data — Rodrigo Fonseca, Plainview, TX
Rodrigo Fonseca is a sole proprietorship located at 809 Travis in Plainview, Texas that received a Coronavirus-related PPP loan from the SBA of $25,099.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Rodrigo Fonseca in Plainview, TX received a Paycheck Protection Loan of $25,099 through Vista Bank, 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 June, 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, Rodrigo Fonseca's 2019 payroll expenses are estimated to be at least $120,475.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,238 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rodrigo Fonseca reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,099
Business Information - Rodrigo Fonseca in Plainview, TX
Plainview, TX 79072
NAICS code 111920
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Plainview
In the Plainview area, 85 businesses in the "Cotton Farming" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $25,852 (compared to this company's $25,099).
Similar Nearby Businesses Who Received PPP Funding:
Craig & Cristy Bennett
Hagen & Rebeckah Hunt
Hatch Farms LLC
Clear Horizon Farms Partnership
Industry PPP Comparison Statistics
Nationwide, 6,854 businesses in the "Cotton Farming" industry received a total of $184.97M 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 3 employees, 50% higher than Rodrigo Fonseca's reported 2 employees, and received an average PPP loan of $26,987, 8% higher than this company's loan of $25,099.
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Footnotes & Information
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