PPP Loan Data — Salvador Sanchez, Austin, TX
Salvador Sanchez is a sole proprietorship located at 401 Congress Ave in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $13,900.00 in April, 2021.
PPP Loan Information
Loan Status:Active Un-Disbursed
Lender:Newtek Small Business Finance, Inc.
Salvador Sanchez in Austin, TX received a Paycheck Protection Loan of $13,900 through Newtek Small Business Finance, Inc., which was approved in April, 2021.
While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $13,900 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in April, 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, Salvador Sanchez's 2019 payroll expenses are estimated to be at least $66,720.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $8,340 per employee1
Reported PPP Proceed Usage:
On the PPP application, Salvador Sanchez reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $13,898
- Utilities: $1
Business Information - Salvador Sanchez in Austin, TX
401 Congress Ave
Austin, TX 78701
NAICS code 236118
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Austin
In the Austin area, 15 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 8) and received an average PPP loan of $162,095 (compared to this company's $13,900).
Similar Nearby Businesses Who Received PPP Funding:
Ulcee Remodeling Inc
Stewart Construction Services
Koch Construction LLC
Kennedy Construction Group LLC
Sentell Solutions LLC
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 63% lower than Salvador Sanchez's reported 8 employees, and received an average PPP loan of $30,405, 119% higher than this company's loan of $13,900.
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Footnotes & Information
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