PPP Loan Data — Foundation Communities, Austin, TX
Foundation Communities is a non-profit organization located at 3000 S Ih 35 in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $3,409,500.00 in April, 2020.
$ PPP Loan Information
Foundation Communities received a Paycheck Protection Loan of $3.41M through UNIVERSITY FCU, which was approved in April, 2020.
Based on standard PPP eligibility rules, Foundation Communities' total 2019 payroll expenses were approximately $16.37M in order to qualify for the PPP loan amount received.
Based on their reported 274 jobs retained, this equals an estimated average yearly compensation of $59,728 per employee1.
Business Information - Foundation Communities in Austin, TX
3000 S Ih 35
Austin, TX 78704
Other Social Advocacy Organizations (NAICS code 813319)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-21
Similar Companies near Austin
In the Austin area, 6 businesses in the "Other Social Advocacy Organizations" industry received a PPP loan. These local businesses reported an average of 80 employees (compared to this company's 274) and received an average PPP loan of $869,505 (compared to this company's $3.41M).
Similar Nearby Businesses Who Received PPP Funding:
Protex Network For A Progressive Texas, Inc.
Engine 2 Immersions, LLC
Center For Integral Studies Casa De Luz
Communities In Schools Of Central Texas
Industry PPP Comparison Statistics
Nationwide, 5,930 businesses in the "Other Social Advocacy Organizations" industry received a total of $1,048,421,927.00 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 17 employees, 94% lower than Foundation Communities' reported 274 employees, and received an average PPP loan of $176,800, 95% lower than this company's loan of $3.41M.
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.
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