PPP Loan Data — SMC Holding Company LLC, Fort Worth, TX
SMC Holding Company LLC is a limited liability company (LLC) located at 600 E Exchange Ave Suite 200 in Fort Worth, Texas that received a Coronavirus-related PPP loan from the SBA of $8,511,237.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
SMC Holding Company LLC in Fort Worth, TX received a Paycheck Protection Loan of $8.51M through PNC Bank, National Association, 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 July, 2020.
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 More
Understanding 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 More
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, SMC Holding Company LLC's 2019 payroll expenses are estimated to be at least $40.85M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $81,708 per employee1
Reported PPP Proceed Usage:
On the PPP application, SMC Holding Company LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $6,383,428
- Utilities: $1,063,905
- Rent: $1,063,905
Business Information - SMC Holding Company LLC in Fort Worth, TX
600 E Exchange Ave Suite 200
Fort Worth, TX 76164
Meat Processed from Carcasses
NAICS code 311612
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,226 businesses in the "Meat Processed from Carcasses" industry received a total of $350.38M 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 31 employees, 94% lower than SMC Holding Company LLC's reported 500 employees, and received an average PPP loan of $285,792, 97% lower than this company's loan of $8.51M.
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Footnotes & Information
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