PPP Loan Data — Timco Logistics Systems LLC, Waxahachie, TX
Timco Logistics Systems LLC
Entity: Limited Liability Company (LLC)
Location: Waxahachie, TXTweet This • Search All PPP Data
Timco Logistics Systems LLC is a limited liability company (LLC) located at 197 Ovilla Rd in Waxahachie, Texas that received a Coronavirus-related PPP loan from the SBA of $1,820,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Timco Logistics Systems LLC in Waxahachie, TX received a Paycheck Protection Loan of $1.82M 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, Timco Logistics Systems LLC's 2019 payroll expenses are estimated to be at least $8.74M.
Based on their reported 232 jobs retained, this equals an estimated average yearly compensation of $37,655 per employee1
Reported PPP Proceed Usage:
On the PPP application, Timco Logistics Systems LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,820,000
Business Information - Timco Logistics Systems LLC in Waxahachie, TX
197 Ovilla Rd
Waxahachie, TX 75167
Process, Physical Distribution, and Logistics Consulting Services
NAICS code 541614
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 10,517 businesses in the "Process, Physical Distribution, and Logistics Consulting Services" industry received a total of $920.57M 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 8 employees, 97% lower than Timco Logistics Systems LLC's reported 232 employees, and received an average PPP loan of $87,532, 95% lower than this company's loan of $1.82M.
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Footnotes & Information
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