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PPP Loan Data — Eustis Mortgage Corporation, New Orleans, LA

SBA PPP loan data, payroll data, and salaries for Eustis Mortgage Corporation
LA

Eustis Mortgage Corporation

Entity: Corporation

Industry: Real Estate Credit

Location: New Orleans, LA

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Eustis Mortgage Corporation is a corporation located at 798 S Rampart St in New Orleans, Louisiana that received a Coronavirus-related PPP loan from the SBA of $2,453,400.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.45M

Jobs Retained:

139

Loan Approved:

2020-04-15

Lender:

WESTERN ALLIANCE BANK

Eustis Mortgage Corporation in New Orleans, LA received a Paycheck Protection Loan of $2.45M through WESTERN ALLIANCE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Eustis Mortgage Corporation's total 2019 payroll expenses were approximately $11.78M in order to qualify for the PPP loan amount received.

Based on their reported 139 jobs retained, this equals an estimated average yearly compensation of $84,722 per employee1.

Because the loan received by Eustis Mortgage Corporation 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 - Eustis Mortgage Corporation in New Orleans, LA

Eustis Mortgage Corporation
798 S Rampart St
New Orleans, LA 70113

Business Industry

Real Estate Credit (NAICS code 522292)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: LA-02

Industry PPP Comparison Statistics

Nationwide, 1,706 businesses in the "Real Estate Credit" industry received a total of $570,275,600.00 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 21 employees, 85% lower than Eustis Mortgage Corporation's reported 139 employees, and received an average PPP loan of $334,276, 86% lower than this company's loan of $2.45M.

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.

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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/eustis-mortgage-corporation-new-orleans-la