PPP Loan Data — Eureka Multifamily Group, LP, Austin, TX
Eureka Multifamily Group, LP is a partnership located at 603 W 8th St. in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $2,375,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Guaranty Bank & Trust, National Association
Eureka Multifamily Group, LP in Austin, TX received a Paycheck Protection Loan of $2.38M through Guaranty Bank & Trust, National Association, which was approved in April, 2020.
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
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, Eureka Multifamily Group, LP's 2019 payroll expenses are estimated to be at least $11.4M.
Based on their reported 396 jobs retained, this equals an estimated average yearly compensation of $28,793 per employee1
Reported PPP Proceed Usage:
On the PPP application, Eureka Multifamily Group, LP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,375,400
Business Information - Eureka Multifamily Group, LP in Austin, TX
603 W 8th St.
Austin, TX 78701
Offices of Other Holding Companies
NAICS code 551112
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Austin
In the Austin area, 16 businesses in the "Offices of Other Holding Companies" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 396) and received an average PPP loan of $225,332 (compared to this company's $2.38M).
Similar Nearby Businesses Who Received PPP Funding:
Iris Telehealth Inc
The Responsibility Company
906 Cmvi Holdings LLC
Galligan Holdings LLC
Wmcp Management Inc
Open Late LLC
Trautwein Holdings LLC
Industry PPP Comparison Statistics
Nationwide, 12,536 businesses in the "Offices of Other Holding Companies" industry received a total of $1.56B 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 13 employees, 97% lower than Eureka Multifamily Group, LP's reported 396 employees, and received an average PPP loan of $124,396, 95% lower than this company's loan of $2.38M.
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Footnotes & Information
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