PPP Loan Data — Solid Wealth Financial Services, Odessa, TX
Solid Wealth Financial Services is a corporation located at 4718 E. University in Odessa, Texas that received a Coronavirus-related PPP loan from the SBA of $25,057.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Solid Wealth Financial Services in Odessa, TX received a Paycheck Protection Loan of $25,057 through Wells Fargo Bank, National Association, which was approved in May, 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
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, Solid Wealth Financial Services' 2019 payroll expenses are estimated to be at least $120,274.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,055 per employee1
Reported PPP Proceed Usage:
On the PPP application, Solid Wealth Financial Services reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,057
Business Information - Solid Wealth Financial Services in Odessa, TX
4718 E. University
Odessa, TX 79762
NAICS code 523120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 4,392 businesses in the "Securities Brokerage" industry received a total of $314.49M 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 5 employees, the same amount reported by Solid Wealth Financial Services and received an average PPP loan of $71,606, 186% higher than this company's loan of $25,057.
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Footnotes & Information
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