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PPP Loan Data — Axialpay Inc,
Houston, TX
Axialpay Inc
Entity: Corporation
Industry: Software Publishers
Location: Houston, TX
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Axialpay Inc is a corporation located at 10101 Southwest Fwy Ste 300 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $13,400.00 in February, 2021.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
$
PPP Loan Information
Loan #2132478406
Loan Size:
Jobs Retained:
4Loan Approved:
2021-02-03Loan Status:
Ongoing LoanLender:
CommunityBank of Texas, National AssociationAxialpay Inc in Houston, TX received a Paycheck Protection Loan of $13,400 through CommunityBank of Texas, National Association, which was approved in February, 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 MoreUnderstanding 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 MoreBased 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, Axialpay Inc's 2019 payroll expenses are estimated to be at least $64,320.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $16,080 per employee1
Reported PPP Proceed Usage:
On the PPP application, Axialpay Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $13,400
Business Information - Axialpay Inc in Houston, TX
10101 Southwest Fwy Ste 300
Houston, TX 77074
Business Industry:
Software Publishers
NAICS code 511210
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 12,401 businesses in the "Software Publishers" industry received a total of $2.66B 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 13 employees, 225% higher than Axialpay Inc's reported 4 employees, and received an average PPP loan of $214,589, 1501% higher than this company's loan of $13,400.
Axialpay Inc
Entity: Corporation
Industry: Financial Transactions Processing, Reserve, and Clearinghouse Activities
Location: Houston, TX
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Search All PPP Data
Axialpay Inc is a corporation located at 10101 Southwest Frwy in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $13,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.
$
PPP Loan Information
Loan #4270707208
Loan Size:
Jobs Retained:
1Loan Approved:
2020-04-27Loan Status:
Paid in Full or ForgivenLender:
CommunityBank of Texas, National AssociationAxialpay Inc in Houston, TX received a Paycheck Protection Loan of $13,400 through CommunityBank of Texas, 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 March, 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 MoreUnderstanding 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 MoreBased 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, Axialpay Inc's 2019 payroll expenses are estimated to be at least $64,320.
Based on their reported 1 jobs retained, this equals an estimated average yearly compensation of $64,320 per employee1
Reported PPP Proceed Usage:
On the PPP application, Axialpay Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $13,400
Business Information - Axialpay Inc in Houston, TX
10101 Southwest Frwy
Houston, TX 77479
Business Industry:
Financial Transactions Processing, Reserve, and Clearinghouse Activities
NAICS code 522320
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 7 businesses in the "Financial Transactions Processing, Reserve, and Clearinghouse Activities" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 1) and received an average PPP loan of $697,977 (compared to this company's $13,400).
Similar Nearby Businesses Who Received PPP Funding:
Sarfaraz Lalmohammed
Sugar Land, TX
AGM Personnel And Servicing LLC
Sugar Land, TX
Merchants Group, Inc
Sugar Land, TX
Money Management International Inc
Sugar Land, TX
Thomas Mcginnis
Sugar Land, TX
Jerry Wood
Sugar Land, TX
Industry PPP Comparison Statistics
Nationwide, 3,332 businesses in the "Financial Transactions Processing, Reserve, and Clearinghouse Activities" industry received a total of $293.93M 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, 600% higher than Axialpay Inc's reported 1 employees, and received an average PPP loan of $88,214, 558% higher than this company's loan of $13,400.
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. § 552 (Freedom of Information Act) and 5 U.S.C. § 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.
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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