PPP Loan Data — Texas Freight Services Inc, Houston, TX
Texas Freight Services Inc is a corporation located at 15711 Morales Rd in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $2,193,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Texas Freight Services Inc in Houston, TX received a Paycheck Protection Loan of $2.19M through Independent 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 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, Texas Freight Services Inc's 2019 payroll expenses are estimated to be at least $10.53M.
Based on their reported 237 jobs retained, this equals an estimated average yearly compensation of $44,425 per employee1
Reported PPP Proceed Usage:
On the PPP application, Texas Freight Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,193,500
Business Information - Texas Freight Services Inc in Houston, TX
15711 Morales Rd
Houston, TX 77032
General Freight Trucking, Local
NAICS code 484110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 114 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 237) and received an average PPP loan of $48,202 (compared to this company's $2.19M).
Similar Nearby Businesses Who Received PPP Funding:
The Godfather Us
Juan Carlos Velez-Limon
Sebert Shipping, Inc
Lee-Exco International Expeditors, Inc
Industry PPP Comparison Statistics
Nationwide, 175,867 businesses in the "General Freight Trucking, Local" industry received a total of $6.6B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 98% lower than Texas Freight Services Inc's reported 237 employees, and received an average PPP loan of $37,520, 98% lower than this company's loan of $2.19M.
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Footnotes & Information
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