PPP Loan Data — CAL-Tex Restaurants Inc., Katy, TX
CAL-Tex Restaurants Inc. is a subchapter s corporation located at 21734 Provincial Road #250 in Katy, Texas that received a Coronavirus-related PPP loan from the SBA of $2,539,270.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FIRST BANK OF THE LAKE
CAL-Tex Restaurants Inc. in Katy, TX received a Paycheck Protection Loan of $2.54M through FIRST BANK OF THE LAKE, which was approved in April, 2020.
Based on standard PPP eligibility rules, CAL-Tex Restaurants Inc.'s total 2019 payroll expenses were approximately $12.19M 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 $24,377 per employee1.
Business Information - CAL-Tex Restaurants Inc. in Katy, TX
21734 Provincial Road #250
Katy, TX 77450
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: TX-07
Similar Companies near Katy
In the Katy area, 16 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 500) and received an average PPP loan of $216,845 (compared to this company's $2.54M).
Similar Nearby Businesses Who Received PPP Funding:
Tito's Mediterranean Grill, LLC
C & S Moko, LLC
Lava Beauteaful International Group LLC
Mason Pizza Inc
Mason Road Management Company LLC
Taquera Andrade Aguirre
Lobo Capital LLC
Dough Sweet Dough LLC
Industry PPP Comparison Statistics
Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 95% lower than CAL-Tex Restaurants Inc.'s reported 500 employees, and received an average PPP loan of $120,904, 95% lower than this company's loan of $2.54M.
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.
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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