PPP Loan Data — Willingham Enterprises, Inc, Altus, OK
Willingham Enterprises, Inc is a subchapter s corporation located at 2801 N Park Ln in Altus, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $46,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Shamrock Bank, National Association
Willingham Enterprises, Inc in Altus, OK received a Paycheck Protection Loan of $46,300 through Shamrock Bank, National Association, 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 December, 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, Willingham Enterprises, Inc's 2019 payroll expenses are estimated to be at least $222,240.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,040 per employee1
Reported PPP Proceed Usage:
On the PPP application, Willingham Enterprises, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $36,000
- Utilities: $3,000
- Mortgage Interest: $7,300
Business Information - Willingham Enterprises, Inc in Altus, OK
2801 N Park Ln
Altus, OK 73521
New Housing For-Sale Builders
NAICS code 236117
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 13,447 businesses in the "New Housing For-Sale Builders" industry received a total of $1.03B 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 7 employees, 17% higher than Willingham Enterprises, Inc's reported 6 employees, and received an average PPP loan of $76,411, 65% higher than this company's loan of $46,300.
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Footnotes & Information
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