PPP Loan Data — The Flooring And Remodeling Shop, Plano, TX
The Flooring And Remodeling Shop is a corporation located at 2830 W 15th Street Ste 1 in Plano, Texas that received a Coronavirus-related PPP loan from the SBA of $25,088.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
The Flooring And Remodeling Shop in Plano, TX received a Paycheck Protection Loan of $25,088 through Wells Fargo Bank, National Association, which was approved in June, 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, The Flooring And Remodeling Shop's 2019 payroll expenses are estimated to be at least $120,422.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,106 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Flooring And Remodeling Shop reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,088
Business Information - The Flooring And Remodeling Shop in Plano, TX
2830 W 15th Street Ste 1
Plano, TX 75075
NAICS code 236118
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Plano
In the Plano area, 31 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $23,692 (compared to this company's $25,088).
Similar Nearby Businesses Who Received PPP Funding:
The Viking Craftsman Inc
Darrell Aschenbeck Construction Inc
Joselyn Matos Feliz
Ascencios Innovations Inc
Aspen Restoration Inc
Hatfield Builders LLC
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B 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 3 employees, 25% lower than The Flooring And Remodeling Shop's reported 4 employees, and received an average PPP loan of $30,405, 21% higher than this company's loan of $25,088.
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Footnotes & Information
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