PPP Loan Data — Universal Corrosion Specialists, Inc, Rosenberg, TX
Universal Corrosion Specialists, Inc is a subchapter s corporation located at 4705 Hwy 36 S, Suite 1 in Rosenberg, Texas that received a Coronavirus-related PPP loan from the SBA of $25,120.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:NewFirst National Bank
Universal Corrosion Specialists, Inc in Rosenberg, TX received a Paycheck Protection Loan of $25,120 through NewFirst National 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 May, 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, Universal Corrosion Specialists, Inc's 2019 payroll expenses are estimated to be at least $120,576.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,288 per employee1
Reported PPP Proceed Usage:
On the PPP application, Universal Corrosion Specialists, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,120
Business Information - Universal Corrosion Specialists, Inc in Rosenberg, TX
4705 Hwy 36 S, Suite 1
Rosenberg, TX 77471
Paint, Varnish, and Supplies Merchant Wholesalers
NAICS code 424950
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, 1,023 businesses in the "Paint, Varnish, and Supplies Merchant Wholesalers" industry received a total of $92.41M 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 10 employees, 400% higher than Universal Corrosion Specialists, Inc's reported 2 employees, and received an average PPP loan of $90,330, 260% higher than this company's loan of $25,120.
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Footnotes & Information
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