PPP Loan Data — Tom-E-Lee Industries, LLC, Midland, TX
Tom-E-Lee Industries, LLC is a limited liability company (LLC) located at 11206 W. County Road 148 in Midland, Texas that received a Coronavirus-related PPP loan from the SBA of $3,704,200.00 in April, 2020.
$ PPP Loan Information
Lender:FIRSTCAPITAL BANK OF TEXAS, NATIONAL ASSOCIATION
Tom-E-Lee Industries, LLC received a Paycheck Protection Loan of $3.7M through FIRSTCAPITAL BANK OF TEXAS, NATIONAL ASSOCIATION, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 96 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 178.
Based on standard PPP eligibility rules, Tom-E-Lee Industries, LLC's total 2019 payroll expenses were approximately $17.78M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 96 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Tom-E-Lee Industries, LLC in Midland, TX
11206 W. County Road 148
Midland, TX 79706
General Freight Trucking, Local (NAICS code 484110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-11
Similar Companies near Midland
In the Midland area, 108 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 96) and received an average PPP loan of $72,721 (compared to this company's $3.7M).
Similar Nearby Businesses Who Received PPP Funding:
JAG Transport Services LLC
G & W Trucking Inc
E & J Hotshot Anf Transport
David & Daughters Logistics LLC
Meeks Transportation Services
Industry PPP Comparison Statistics
Nationwide, 63,007 businesses in the "General Freight Trucking, Local" industry received a total of $3,835,780,964.00 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 5 employees, 95% lower than Tom-E-Lee Industries, LLC's reported 96 employees, and received an average PPP loan of $60,879, 98% lower than this company's loan of $3.7M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
Have FederalPay.org's open data tools been valuable? Consider donating!