PPP Loan Data — Vendingsource Inc, Terrell, TX
Vendingsource Inc is a corporation located at 11517 Hiram Rd in Terrell, Texas that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The American National Bank of Texas
Vendingsource Inc in Terrell, TX received a Paycheck Protection Loan of $25,100 through The American National Bank of Texas, 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, Vendingsource Inc's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,120 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vendingsource Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - Vendingsource Inc in Terrell, TX
11517 Hiram Rd
Terrell, TX 75161
Vending Machine Operators
NAICS code 454210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Terrell
In the Terrell area, 3 businesses in the "Vending Machine Operators" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $18,998 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 5,683 businesses in the "Vending Machine Operators" industry received a total of $306.05M 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 6 employees, 50% higher than Vendingsource Inc's reported 4 employees, and received an average PPP loan of $53,853, 115% higher than this company's loan of $25,100.
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