PPP Loan Data — Genesis Vision II LLC, Humble, TX
Genesis Vision II LLC is a limited liability company (LLC) located at 8650 N Sam Houston Parkway E 110 in Humble, Texas that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Unity National Bank of Houston
Genesis Vision II LLC in Humble, TX received a Paycheck Protection Loan of $25,000 through Unity National Bank of Houston, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.
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, Genesis Vision II LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Genesis Vision II LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Genesis Vision II LLC in Humble, TX
8650 N Sam Houston Parkway E 110
Humble, TX 77396
NAICS code 722513
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Humble
In the Humble area, 14 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 6) and received an average PPP loan of $42,578 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Houston Fried Chicken LLC
Pat's Wings On Wheels
K3 Hospitality And Management LLC
AHS Foods LLC
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 250% higher than Genesis Vision II LLC's reported 6 employees, and received an average PPP loan of $100,980, 304% higher than this company's loan of $25,000.
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Footnotes & Information
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