PPP Loan Data — Texas Vests Inc, Katy, TX
Texas Vests Inc is a corporation located at 636 S Mason Rd in Katy, Texas that received a Coronavirus-related PPP loan from the SBA of $46,974.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Harvest Small Business Finance, LLC
Texas Vests Inc in Katy, TX received a Paycheck Protection Loan of $46,974 through Harvest Small Business Finance, LLC, which was approved in April, 2020.
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 Vests Inc's 2019 payroll expenses are estimated to be at least $225,475.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $56,369 per employee1
Reported PPP Proceed Usage:
On the PPP application, Texas Vests Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,974
Business Information - Texas Vests Inc in Katy, TX
636 S Mason Rd
Katy, TX 77450
Electronic Shopping and Mail-Order Houses
NAICS code 454110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Katy
In the Katy area, 8 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 4) and received an average PPP loan of $16,939 (compared to this company's $46,974).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 22,717 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a total of $954.6M 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 4 employees, the same amount reported by Texas Vests Inc and received an average PPP loan of $42,021, 11% lower than this company's loan of $46,974.
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