PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Aquarius Condominiums Owners Association Inc, South Padre Island, TX

ALERT: There are 2 PPP loans for a total of $87,000 in our database for businesses with the name "Aquarius Condominiums Owners Association Inc" in South Padre Island, TX. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Aquarius Condominiums Owners Association Inc
TX

Aquarius Condominiums Owners Association Inc

Entity: Corporation

Industry: Other Similar Organizations (except Business, Professional, Labor, and Political Organizations)

Location: South Padre Island, TX

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Aquarius Condominiums Owners Association Inc is a corporation located at 2000 Gulf Blvd in South Padre Island, Texas that received a Coronavirus-related PPP loan from the SBA of $37,000.00 in January, 2021.

$ PPP Loan Information
Loan #2977318308

Loan Size:

$37,000

Jobs Retained:

9

Loan Approved:

2021-01-21

Loan Status:

Ongoing Loan

Lender:

First National Bank of South Padre Island

Aquarius Condominiums Owners Association Inc in South Padre Island, TX received a Paycheck Protection Loan of $37,000 through First National Bank of South Padre Island, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Aquarius Condominiums Owners Association Inc's 2019 payroll expenses are estimated to be at least $177,600.

Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $19,733 per employee1

Reported PPP Proceed Usage:

On the PPP application, Aquarius Condominiums Owners Association Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $36,999
  • Utilities: $1

Business Information - Aquarius Condominiums Owners Association Inc in South Padre Island, TX

Aquarius Condominiums Owners Association Inc
2000 Gulf Blvd
South Padre Island, TX 78597

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Cameron County, TX — SBA Office 0639 — Congressional District: TX-34

Similar Companies near South Padre Island

In the South Padre Island area, 11 businesses in the "Other Similar Organizations (except Business, Professional, Labor, and Political Organizations)" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 9) and received an average PPP loan of $61,954 (compared to this company's $37,000).

Industry PPP Comparison Statistics

Nationwide, 8,934 businesses in the "Other Similar Organizations (except Business, Professional, Labor, and Political Organizations)" industry received a total of $676.03M 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 9 employees, the same amount reported by Aquarius Condominiums Owners Association Inc and received an average PPP loan of $75,670, 105% higher than this company's loan of $37,000.

SBA PPP loan data, payroll data, and salaries for Aquarius Condominiums Owners Association, Inc
TX

Aquarius Condominiums Owners Association, Inc

Entity: Corporation

Industry: Other Activities Related to Real Estate

Location: South Padre Island, TX

Search All PPP Data

Aquarius Condominiums Owners Association, Inc is a corporation located at 2000 Gulf Blvd in South Padre Island, Texas that received a Coronavirus-related PPP loan from the SBA of $50,000.00 in April, 2020.

$ PPP Loan Information
Loan #7027617002

Loan Size:

$50,000

Jobs Retained:

10

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

First National Bank of South Padre Island

Aquarius Condominiums Owners Association, Inc in South Padre Island, TX received a Paycheck Protection Loan of $50,000 through First National Bank of South Padre Island, 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Aquarius Condominiums Owners Association, Inc's 2019 payroll expenses are estimated to be at least $240,000.

Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Aquarius Condominiums Owners Association, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $40,000
  • Utilities: $2,000
  • Mortgage Interest: $2,000
  • Rent: $2,000
  • Health Care: $2,000
  • Debt Interest: $2,000

Business Information - Aquarius Condominiums Owners Association, Inc in South Padre Island, TX

Aquarius Condominiums Owners Association, Inc
2000 Gulf Blvd
South Padre Island, TX 78597

Business Industry:
Other Activities Related to Real Estate
NAICS code 531390

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Cameron County, TX — SBA Office 0639 — Congressional District: TX-34

Similar Companies near South Padre Island

In the South Padre Island area, 11 businesses in the "Other Activities Related to Real Estate" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 10) and received an average PPP loan of $60,655 (compared to this company's $50,000).

Industry PPP Comparison Statistics

Nationwide, 79,334 businesses in the "Other Activities Related to Real Estate" industry received a total of $3.69B 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 4 employees, 60% lower than Aquarius Condominiums Owners Association, Inc's reported 10 employees, and received an average PPP loan of $46,456, 7% lower than this company's loan of $50,000.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/aquarius-condominiums-owners-association-inc-south-padre-island-tx