PPP Loan Data — Top Flight Steel Inc, Rhome, TX
Top Flight Steel Inc
Location: Rhome, TXTweet This • Search All PPP Data
Top Flight Steel Inc is a corporation located at 101 County Road 4717 in Rhome, Texas that received a Coronavirus-related PPP loan from the SBA of $1,538,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:FirstCapital Bank of Texas, National Association
Top Flight Steel Inc in Rhome, TX received a Paycheck Protection Loan of $1.54M through FirstCapital Bank of Texas, 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, Top Flight Steel Inc's 2019 payroll expenses are estimated to be at least $7.38M.
Based on their reported 119 jobs retained, this equals an estimated average yearly compensation of $62,045 per employee1
Reported PPP Proceed Usage:
On the PPP application, Top Flight Steel Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,538,200
Business Information - Top Flight Steel Inc in Rhome, TX
101 County Road 4717
Rhome, TX 76078
Iron and Steel Pipe and Tube Manufacturing from Purchased Steel
NAICS code 331210
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 1,388 businesses in the "Iron and Steel Pipe and Tube Manufacturing from Purchased Steel" industry received a total of $409.22M 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 25 employees, 79% lower than Top Flight Steel Inc's reported 119 employees, and received an average PPP loan of $294,829, 81% lower than this company's loan of $1.54M.
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Footnotes & Information
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