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PPP Loan Data — Sharon B Smith PC,
Bedford, TX
Sharon B Smith PC
Entity: Subchapter S Corporation
Industry: Offices of Lawyers
Location: Bedford, TX
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Sharon B Smith PC is a subchapter s corporation located at 1905 Central Dr Ste 103 in Bedford, Texas that received a Coronavirus-related PPP loan from the SBA of $15,889.00 in March, 2021.
$
PPP Loan Information
Loan #1479458601
Loan Size:
Jobs Retained:
3Loan Approved:
2021-03-13Loan Status:
Ongoing LoanLender:
Pinnacle BankSharon B Smith PC in Bedford, TX received a Paycheck Protection Loan of $15,889 through Pinnacle Bank, which was approved in March, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Sharon B Smith PC's 2019 payroll expenses are estimated to be at least $76,267.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $25,422 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sharon B Smith PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $15,887
- Utilities: $1
Business Information - Sharon B Smith PC in Bedford, TX
1905 Central Dr Ste 103
Bedford, TX 76021
Business Industry:
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Bedford
In the Bedford area, 45 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 3) and received an average PPP loan of $125,285 (compared to this company's $15,889).
Similar Nearby Businesses Who Received PPP Funding:
Phillip Galyen PC
Bedford, TX
Anita K. Cutrer, Attorney At Law, PLLC
Bedford, TX
Brian C. Hargrove, PC
Bedford, TX
Law Office Of Timothy E Brown PLLC
Bedford, TX
Blenden Roth Law Firm PLLC
Bedford, TX
Martinez Hsu PC
Bedford, TX
Tyler A Harden Atty PC
Azle, TX
Law Office Of Craig S Michalk
Bedford, TX
Mark B. French Law Office
Bedford, TX
Industry PPP Comparison Statistics
Nationwide, 200,507 businesses in the "Offices of Lawyers" industry received a total of $16.38B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 100% higher than Sharon B Smith PC's reported 3 employees, and received an average PPP loan of $81,669, 414% higher than this company's loan of $15,889.
Sharon B. Smith PC
Entity: Subchapter S Corporation
Industry: All Other Professional, Scientific, and Technical Services
Location: Bedford, TX
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Sharon B. Smith PC is a subchapter s corporation located at 1905 Central Dr Suite 103 in Bedford, Texas that received a Coronavirus-related PPP loan from the SBA of $15,400.00 in April, 2020.
$
PPP Loan Information
Loan #7565237210
Loan Size:
Jobs Retained:
2Loan Approved:
2020-04-28Loan Status:
Paid in Full or ForgivenLender:
Pinnacle BankSharon B. Smith PC in Bedford, TX received a Paycheck Protection Loan of $15,400 through Pinnacle 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
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Sharon B. Smith PC's 2019 payroll expenses are estimated to be at least $73,920.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $36,960 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sharon B. Smith PC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $15,400
Business Information - Sharon B. Smith PC in Bedford, TX
1905 Central Dr Suite 103
Bedford, TX 76021
Business Industry:
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Bedford
In the Bedford area, 26 businesses in the "All Other Professional, Scientific, and Technical Services" 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 $27,024 (compared to this company's $15,400).
Similar Nearby Businesses Who Received PPP Funding:
Roger Lawson Sewell
Bedford, TX
C & W Stoneworks, LLC
Bedford, TX
MCD Stucco LLC
Azle, TX
Audry Munganga
Bedford, TX
Donald H. Peterson, Jr
Bedford, TX
Raymond Doyle
Azle, TX
One World Merchant Services Inc
Bedford, TX
Dream Big Enterprise Inc
Bedford, TX
Industry PPP Comparison Statistics
Nationwide, 128,302 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.37B 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 5 employees, 150% higher than Sharon B. Smith PC's reported 2 employees, and received an average PPP loan of $57,481, 273% higher than this company's loan of $15,400.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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