FederalPay.org
PPP Loan Data — Cortec, LLC,
Houma, LA
Cortec, LLC
Entity: Corporation
Industry: Industrial Valve Manufacturing
Location: Houma, LA
Tweet This
•
Search All PPP Data
Cortec, LLC is a corporation located at 208 Equity Boulevard, in Houma, Louisiana that received a Coronavirus-related PPP loan from the SBA of $3,000,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
191Loan Approved:
2020-04-13Lender:
REGIONS BANKCortec, LLC received a Paycheck Protection Loan of $3M through REGIONS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Cortec, LLC's total 2019 payroll expenses were approximately $14.4M in order to qualify for the PPP loan amount received.
Based on their reported 191 jobs retained, this equals an estimated average yearly compensation of $75,393 per employee1.
Business Information - Cortec, LLC in Houma, LA
208 Equity Boulevard,
Houma, LA 70360
Business Industry
Industrial Valve Manufacturing (NAICS code 332911)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: LA-01Similar Companies near Houma
In the Houma area, 2 businesses in the "Industrial Valve Manufacturing" industry received a PPP loan. These local businesses reported an average of 120 employees (compared to this company's 191) and received an average PPP loan of $1,806,500 (compared to this company's $3M).
Similar Nearby Businesses Who Received PPP Funding:
GEM-Trim Of Houma, Lla
Houma, LA
Industry PPP Comparison Statistics
Nationwide, 516 businesses in the "Industrial Valve Manufacturing" industry received a total of $215,302,563.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 27 employees, 86% lower than Cortec, LLC's reported 191 employees, and received an average PPP loan of $417,253, 86% lower than this company's loan of $3M.
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.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!