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

PPP Loan Data — Convention And Cultural Services Inc, Houston, TX

ALERT: There are 2 PPP loans for a total of $6.18M in our database for businesses with the name "Convention And Cultural Services Inc" in Houston, 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 Convention And Cultural Services Inc
TX

Convention And Cultural Services Inc

Entity: Corporation

Industry: Convention and Visitors Bureaus

Location: Houston, TX

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Convention And Cultural Services Inc is a corporation located at 701 Avenida De Las Americas Ste 200 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.

The company has reported itself as a Black or african american male owned business, and employed at least 146 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6273688608

Loan Size:

$2M

Jobs Retained:

146

Loan Approved:

2021-03-23

Loan Status:

Ongoing Loan

Lender:

Bank of America, National Association

Convention And Cultural Services Inc in Houston, TX received a Paycheck Protection Loan of $2M through Bank of America, National Association, which was approved in March, 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, Convention And Cultural Services Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 146 jobs retained, this equals an estimated average yearly compensation of $65,753 per employee1

Reported PPP Proceed Usage:

On the PPP application, Convention And Cultural Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,000,000
Because the loan received by Convention And Cultural Services Inc 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 - Convention And Cultural Services Inc in Houston, TX

Convention And Cultural Services Inc
701 Avenida De Las Americas Ste 200
Houston, TX 77010

Business Industry:
Convention and Visitors Bureaus
NAICS code 561591

Business Owner Demographics

Race: Black or African American

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Harris County, TX — SBA Office 0671 — Congressional District: TX-18

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as Convention And Cultural Services Inc.

WPC Organizing Committee
Convention and Trade Show Organizers

$319,295 PPP Loan

Houston First Holdings LLC
Hotels (except Casino Hotels) and Motels

$2.6M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 825 businesses in the "Convention and Visitors Bureaus" industry received a total of $138.29M 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 12 employees, 92% lower than Convention And Cultural Services Inc's reported 146 employees, and received an average PPP loan of $167,625, 92% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Convention And Cultural Services Inc
TX

Convention And Cultural Services Inc

Entity: Corporation

Industry: Business Associations

Location: Houston, TX

Search All PPP Data

Convention And Cultural Services Inc is a corporation located at Avenida De Las Americas in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $4,180,675.00 in April, 2020.

$ PPP Loan Information
Loan #6357647107

Loan Size:

$4.18M

Jobs Retained:

227

Loan Approved:

2020-04-14

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Convention And Cultural Services Inc in Houston, TX received a Paycheck Protection Loan of $4.18M through Bank of America, 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 September, 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, Convention And Cultural Services Inc's 2019 payroll expenses are estimated to be at least $20.07M.

Based on their reported 227 jobs retained, this equals an estimated average yearly compensation of $88,402 per employee1

Reported PPP Proceed Usage:

On the PPP application, Convention And Cultural Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $4,180,675
Because the loan received by Convention And Cultural Services Inc 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 - Convention And Cultural Services Inc in Houston, TX

Convention And Cultural Services Inc
Avenida De Las Americas
Houston, TX 77010

Business Industry:
Business Associations
NAICS code 813910

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Harris County, TX — SBA Office 0671 — Congressional District: TX-18

Similar Companies near Houston

In the Houston area, 5 businesses in the "Business Associations" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 227) and received an average PPP loan of $1,161,699 (compared to this company's $4.18M).

Industry PPP Comparison Statistics

Nationwide, 17,249 businesses in the "Business Associations" industry received a total of $1.16B 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 6 employees, 97% lower than Convention And Cultural Services Inc's reported 227 employees, and received an average PPP loan of $67,298, 98% lower than this company's loan of $4.18M.

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.

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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Source: www.federalpay.org/paycheck-protection-program/convention-and-cultural-services-inc-houston-tx