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PPP Loan Data — Cornerstone Fitness Texas, LLC, Mcallen, TX

SBA PPP loan data, payroll data, and salaries for Cornerstone Fitness Texas, LLC
TX

Cornerstone Fitness Texas, LLC

Entity: Limited Liability Company (LLC)

Industry: Fitness and Recreational Sports Centers

Location: Mcallen, TX

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Cornerstone Fitness Texas, LLC is a limited liability company (LLC) located at 110 S. Col Roe Blvd in Mcallen, Texas that received a Coronavirus-related PPP loan from the SBA of $2,583,800.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.58M

Jobs Retained:

500

Loan Approved:

2020-04-05

Lender:

ENTERPRISE BANK & TRUST

Cornerstone Fitness Texas, LLC in Mcallen, TX received a Paycheck Protection Loan of $2.58M through ENTERPRISE BANK & TRUST, which was approved in April, 2020.

Based on standard PPP eligibility rules, Cornerstone Fitness Texas, LLC's total 2019 payroll expenses were approximately $12.4M 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 $24,804 per employee1.

Because the loan received by Cornerstone Fitness Texas, LLC 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 - Cornerstone Fitness Texas, LLC in Mcallen, TX

Cornerstone Fitness Texas, LLC
110 S. Col Roe Blvd
Mcallen, TX 78501

Business Industry

Fitness and Recreational Sports Centers (NAICS code 713940)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: TX-15

Similar Companies near Mcallen

In the Mcallen area, 12 businesses in the "Fitness and Recreational Sports Centers" industry received a PPP loan. These local businesses reported an average of 74 employees (compared to this company's 500) and received an average PPP loan of $286,339 (compared to this company's $2.58M).

Industry PPP Comparison Statistics

Nationwide, 30,501 businesses in the "Fitness and Recreational Sports Centers" industry received a total of $1,606,092,659.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 98% lower than Cornerstone Fitness Texas, LLC's reported 500 employees, and received an average PPP loan of $52,657, 98% lower than this company's loan of $2.58M.

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.

Search FederalPay's Full PPP Loan Database

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/cornerstone-fitness-texas-llc-mcallen-tx