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PPP Loan Data — Berkeley Eye Institute , PA, Kingwood, TX

SBA PPP loan data, payroll data, and salaries for Berkeley Eye Institute , PA
TX

Berkeley Eye Institute , PA

Entity: Professional Association

Industry: Offices of Optometrists

Location: Kingwood, TX

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Berkeley Eye Institute , PA is a professional association located at 22741 Professional Dr in Kingwood, Texas that received a Coronavirus-related PPP loan from the SBA of $4,778,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.78M

Jobs Retained:

250

Loan Approved:

2020-04-04

Lender:

THIRD COAST BANK SSB

Berkeley Eye Institute , PA in Kingwood, TX received a Paycheck Protection Loan of $4.78M through THIRD COAST BANK SSB, which was approved in April, 2020.

Based on standard PPP eligibility rules, Berkeley Eye Institute , PA's total 2019 payroll expenses were approximately $22.94M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $91,743 per employee1.

Because the loan received by Berkeley Eye Institute , PA 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 - Berkeley Eye Institute , PA in Kingwood, TX

Berkeley Eye Institute , PA
22741 Professional Dr
Kingwood, TX 77339

Business Industry

Offices of Optometrists (NAICS code 621320)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-08

Similar Companies near Kingwood

In the Kingwood area, 11 businesses in the "Offices of Optometrists" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 250) and received an average PPP loan of $528,274 (compared to this company's $4.78M).

Industry PPP Comparison Statistics

Nationwide, 16,785 businesses in the "Offices of Optometrists" industry received a total of $1,250,172,320.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 7 employees, 97% lower than Berkeley Eye Institute , PA's reported 250 employees, and received an average PPP loan of $74,482, 98% lower than this company's loan of $4.78M.

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, 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/berkeley-eye-institute-pa-kingwood-tx