PPP Loan Data — Solar Mod Systems Inc, Plano, TX
Solar Mod Systems Inc
Entity: Subchapter S Corporation
Location: Plano, TXTweet This • Search All PPP Data
Solar Mod Systems Inc is a subchapter s corporation located at 3948 Legacy St 106-155 in Plano, Texas that received a Coronavirus-related PPP loan from the SBA of $25,007.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Solar Mod Systems Inc in Plano, TX received a Paycheck Protection Loan of $25,007 through WebBank, which was approved in May, 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, Solar Mod Systems Inc's 2019 payroll expenses are estimated to be at least $120,034.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,017 per employee1
Reported PPP Proceed Usage:
On the PPP application, Solar Mod Systems Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,007
Business Information - Solar Mod Systems Inc in Plano, TX
3948 Legacy St 106-155
Plano, TX 75023
Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers
NAICS code 423720
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Plano
In the Plano area, 3 businesses in the "Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 2) and received an average PPP loan of $57,913 (compared to this company's $25,007).
Similar Nearby Businesses Who Received PPP Funding:
Universal Solar System LLC
Industry PPP Comparison Statistics
Nationwide, 4,248 businesses in the "Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers" industry received a total of $720.86M 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 13 employees, 550% higher than Solar Mod Systems Inc's reported 2 employees, and received an average PPP loan of $169,693, 579% higher than this company's loan of $25,007.
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Footnotes & Information
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