PPP Loan Data — Texas Fleet Specialists Inc, Ennis, TX
Texas Fleet Specialists Inc
Location: Ennis, TXTweet This • Search All PPP Data
Texas Fleet Specialists Inc is a corporation located at 4001 N Interstate Highway 45 in Ennis, Texas that received a Coronavirus-related PPP loan from the SBA of $46,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens National Bank of Texas
Texas Fleet Specialists Inc in Ennis, TX received a Paycheck Protection Loan of $46,000 through Citizens National Bank of Texas, 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 April, 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, Texas Fleet Specialists Inc's 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, Texas Fleet Specialists Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,000
Business Information - Texas Fleet Specialists Inc in Ennis, TX
4001 N Interstate Highway 45
Ennis, TX 75119
Other Automotive Mechanical and Electrical Repair and Maintenance
NAICS code 811118
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Ennis
In the Ennis area, 2 businesses in the "Other Automotive Mechanical and Electrical Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $32,339 (compared to this company's $46,000).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 22,608 businesses in the "Other Automotive Mechanical and Electrical Repair and Maintenance" industry received a total of $645.02M 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 3 employees, 50% lower than Texas Fleet Specialists Inc's reported 6 employees, and received an average PPP loan of $28,531, 38% lower than this company's loan of $46,000.
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Footnotes & Information
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