PPP Loan Data — Shawnda Morelock, Corsicana, TX
Shawnda Morelock is a sole proprietorship located at 1427 W 2nd Avenue in Corsicana, Texas that received a Coronavirus-related PPP loan from the SBA of $24,908.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Incommons Bank, National Association
Shawnda Morelock in Corsicana, TX received a Paycheck Protection Loan of $24,908 through Incommons Bank, National Association, which was approved in April, 2020.
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, Shawnda Morelock's 2019 payroll expenses are estimated to be at least $119,558.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $19,926 per employee1
Reported PPP Proceed Usage:
On the PPP application, Shawnda Morelock reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,908
Business Information - Shawnda Morelock in Corsicana, TX
1427 W 2nd Avenue
Corsicana, TX 75110
Child Day Care Services
NAICS code 624410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Corsicana
In the Corsicana area, 20 businesses in the "Child Day Care Services" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 6) and received an average PPP loan of $53,944 (compared to this company's $24,908).
Similar Nearby Businesses Who Received PPP Funding:
Brighter Horizons Childcare
Candy Cane Corner Inc
Advance Child Care Inc
Industry PPP Comparison Statistics
Nationwide, 132,794 businesses in the "Child Day Care Services" industry received a total of $5.53B 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 8 employees, 33% higher than Shawnda Morelock's reported 6 employees, and received an average PPP loan of $41,676, 67% higher than this company's loan of $24,908.
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Footnotes & Information
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