PPP Loan Data — Smith Temporaries, Inc, Grapevine, TX
Smith Temporaries, Inc is a subchapter s corporation located at 2301 Mustang Drive #100 in Grapevine, Texas that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Smith Temporaries, Inc in Grapevine, TX received a Paycheck Protection Loan of $10M through Frost 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 October, 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, Smith Temporaries, Inc's 2019 payroll expenses are estimated to be at least $48M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Smith Temporaries, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $10,000,000
Business Information - Smith Temporaries, Inc in Grapevine, TX
2301 Mustang Drive #100
Grapevine, TX 76051
Temporary Help Services
NAICS code 561320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Grapevine
In the Grapevine area, 4 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 133 employees (compared to this company's 500) and received an average PPP loan of $2,558,708 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
New Vision Staffing Inc
Ventana Solutions Inc
Consulting Spectrum, Inc
Industry PPP Comparison Statistics
Nationwide, 8,904 businesses in the "Temporary Help Services" industry received a total of $3.65B 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 51 employees, 90% lower than Smith Temporaries, Inc's reported 500 employees, and received an average PPP loan of $409,706, 96% lower than this company's loan of $10M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!