PPP Loan Data — Texarkana Tractor Company, Texarkana, TX
Texarkana Tractor Company
Entity: Subchapter S Corporation
Location: Texarkana, TXTweet This • Search All PPP Data
Texarkana Tractor Company is a subchapter s corporation located at 7340 Hampton Rd in Texarkana, Texas that received a Coronavirus-related PPP loan from the SBA of $1,984,252.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Farmers Bank & Trust Company
Texarkana Tractor Company in Texarkana, TX received a Paycheck Protection Loan of $1.98M through Farmers Bank & Trust Company, 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 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, Texarkana Tractor Company's 2019 payroll expenses are estimated to be at least $9.52M.
Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $61,054 per employee1
Reported PPP Proceed Usage:
On the PPP application, Texarkana Tractor Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,984,252
Business Information - Texarkana Tractor Company in Texarkana, TX
7340 Hampton Rd
Texarkana, TX 75503
Industrial Machinery and Equipment Merchant Wholesalers
NAICS code 423830
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Texarkana
In the Texarkana area, 3 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 156) and received an average PPP loan of $675,306 (compared to this company's $1.98M).
Similar Nearby Businesses Who Received PPP Funding:
John K Nutt
Industry PPP Comparison Statistics
Nationwide, 11,076 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.24B 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 15 employees, 90% lower than Texarkana Tractor Company's reported 156 employees, and received an average PPP loan of $202,534, 90% lower than this company's loan of $1.98M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!