PPP Loan Data — Titan Production Equipment, LLC, Spring, TX
Titan Production Equipment, LLC is a limited liability company (LLC) located at 480 Wildwood Forest Dr in Spring, Texas that received a Coronavirus-related PPP loan from the SBA of $2,840,032.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:MetaBank, National Association
Titan Production Equipment, LLC in Spring, TX received a Paycheck Protection Loan of $2.84M through MetaBank, National Association, 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, Titan Production Equipment, LLC's 2019 payroll expenses are estimated to be at least $13.63M.
Based on their reported 143 jobs retained, this equals an estimated average yearly compensation of $95,330 per employee1
Reported PPP Proceed Usage:
On the PPP application, Titan Production Equipment, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,840,032
Business Information - Titan Production Equipment, LLC in Spring, TX
480 Wildwood Forest Dr
Spring, TX 77380
Power-Driven Handtool Manufacturing
NAICS code 333991
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 306 businesses in the "Power-Driven Handtool Manufacturing" industry received a total of $59.17M 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 17 employees, 88% lower than Titan Production Equipment, LLC's reported 143 employees, and received an average PPP loan of $193,376, 93% lower than this company's loan of $2.84M.
FederalPay's PPP Information Policy
Footnotes & Information
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