PPP Loan Data — Cognitive Space, Manvel, TX
Industry: Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)
Location: Manvel, TXTweet This • Search All PPP Data
Cognitive Space is a corporation located at 3027 Brahman Drive in Manvel, Texas that received a Coronavirus-related PPP loan from the SBA of $25,153.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Cognitive Space in Manvel, TX received a Paycheck Protection Loan of $25,153 through Wells Fargo Bank, National Association, which was approved in May, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Cognitive Space's 2019 payroll expenses are estimated to be at least $120,734.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,245 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cognitive Space reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,153
Business Information - Cognitive Space in Manvel, TX
3027 Brahman Drive
Manvel, TX 77578
Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)
NAICS code 541715
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 4,934 businesses in the "Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)" industry received a total of $828.3M 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 11 employees, 267% higher than Cognitive Space's reported 3 employees, and received an average PPP loan of $167,876, 567% higher than this company's loan of $25,153.
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