PPP Loan Data — Costello, Houston, TX
Costello is a subchapter s corporation located at 2107 Citywest Blvd 3rd Floor in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $2,008,519.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Costello in Houston, TX received a Paycheck Protection Loan of $2.01M through BBVA USA, which was approved in April, 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, Costello's 2019 payroll expenses are estimated to be at least $9.64M.
Based on their reported 165 jobs retained, this equals an estimated average yearly compensation of $58,430 per employee1
Reported PPP Proceed Usage:
On the PPP application, Costello reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,506,390
- Utilities: $251,065
- Mortgage Interest: $251,064
Business Information - Costello in Houston, TX
2107 Citywest Blvd 3rd Floor
Houston, TX 77042
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 177 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 165) and received an average PPP loan of $34,513 (compared to this company's $2.01M).
Similar Nearby Businesses Who Received PPP Funding:
Yunior Sanchez Rodriguez
Jansel Gonzalez Lorente
Jose F Rivera DBA West Shoe Hospital
Texan Radiator Auto Repair, Inc
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 98% lower than Costello's reported 165 employees, and received an average PPP loan of $23,676, 99% lower than this company's loan of $2.01M.
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Footnotes & Information
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