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PPP Loan Data — Convention And Cultural Services Inc,
Houston, 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:
Jobs Retained:
146Loan Approved:
2021-03-23Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationConvention 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'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 April, 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, 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
Business Information - Convention And Cultural Services Inc in Houston, TX
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
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
Houston First Holdings LLC
Hotels (except Casino Hotels) and Motels
Industry PPP Comparison Statistics
Nationwide, 824 businesses in the "Convention and Visitors Bureaus" industry received a total of $138.27M 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 $167,803, 92% lower than this company's loan of $2M.
Convention And Cultural Services Inc
Entity: Corporation
Industry: Business Associations
Location: Houston, TX
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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:
Jobs Retained:
227Loan Approved:
2020-04-14Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationConvention 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 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, 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
Business Information - Convention And Cultural Services Inc in Houston, TX
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
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).
Similar Nearby Businesses Who Received PPP Funding:
Greater Houston Partnership Inc
Houston, TX
Natrese Rudison
Houston, TX
Hotel & Lodging Association Of Greater Houston
Houston, TX
Comerciantes Latinos Unidos De Houston
Houston, TX
Industry PPP Comparison Statistics
Nationwide, 17,151 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 $67,551, 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.
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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