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PPP Loan Data — 11111 North 7Th Street Property De LLC, Houston, TX

SBA PPP loan data, payroll data, and salaries for 11111 North 7Th Street Property De LLC
TX

11111 North 7Th Street Property De LLC

Entity: Limited Liability Company (LLC)

Industry: Hotels (except Casino Hotels) and Motels

Location: Houston, TX

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11111 North 7Th Street Property De LLC is a limited liability company (LLC) located at 720 N Post Oak Road Suite 500 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $4,394,611.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.39M

Jobs Retained:

500

Loan Approved:

2020-04-15

Lender:

SPIRIT OF TEXAS BANK, SSB

11111 North 7Th Street Property De LLC received a Paycheck Protection Loan of $4.39M through SPIRIT OF TEXAS BANK, SSB, which was approved in April, 2020.

Based on standard PPP eligibility rules, 11111 North 7Th Street Property De LLC's total 2019 payroll expenses were approximately $21.09M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $42,188 per employee1.

Because the loan received by 11111 North 7Th Street Property De LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - 11111 North 7Th Street Property De LLC in Houston, TX

11111 North 7Th Street Property De LLC
720 N Post Oak Road Suite 500
Houston, TX 77024

Business Industry

Hotels (except Casino Hotels) and Motels (NAICS code 721110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-07

Similar Companies near Houston

In the Houston area, 23 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 500) and received an average PPP loan of $266,557 (compared to this company's $4.39M).

Industry PPP Comparison Statistics

Nationwide, 41,528 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $6,692,184,447.00 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 21 employees, 96% lower than 11111 North 7Th Street Property De LLC's reported 500 employees, and received an average PPP loan of $161,149, 96% lower than this company's loan of $4.39M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. ยง 552 (Freedom of Information Act) and 5 U.S.C. ยง 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/11111-north-7th-street-property-de-llc-houston-tx