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PPP Loan Data — Texas Melon Exchange, Inc., Edinburg, TX

SBA PPP loan data, payroll data, and salaries for Texas Melon Exchange, Inc.
TX

Texas Melon Exchange, Inc.

Entity: Corporation

Industry: Other Vegetable (except Potato) and Melon Farming

Location: Edinburg, TX

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Texas Melon Exchange, Inc. is a corporation located at 2302 N. Closner Blvd in Edinburg, Texas that received a Coronavirus-related PPP loan from the SBA of $116,600.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least nine people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$116,600

Jobs Retained:

9

Loan Approved:

2020-04-09

Lender:

FROST BANK

Texas Melon Exchange, Inc. received a Paycheck Protection Loan of $116,600 through FROST BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Texas Melon Exchange, Inc.'s total 2019 payroll expenses were approximately $559,680 in order to qualify for the PPP loan amount received.

Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $62,187 per employee1.

Business Information - Texas Melon Exchange, Inc. in Edinburg, TX

Texas Melon Exchange, Inc.
2302 N. Closner Blvd
Edinburg, TX 78541

Business Industry

Other Vegetable (except Potato) and Melon Farming (NAICS code 111219)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: TX-15

Similar Companies near Edinburg

In the Edinburg area, 4 businesses in the "Other Vegetable (except Potato) and Melon Farming" industry received a PPP loan. These local businesses reported an average of 147 employees (compared to this company's 9) and received an average PPP loan of $836,943 (compared to this company's $116,600).

Industry PPP Comparison Statistics

Nationwide, 2,280 businesses in the "Other Vegetable (except Potato) and Melon Farming" industry received a total of $313,843,829.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 18 employees, 100% higher than Texas Melon Exchange, Inc.'s reported 9 employees, and received an average PPP loan of $137,651, 18% higher than this company's loan of $116,600.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/texas-melon-exchange-inc-edinburg-tx