PPP Loan Data — His Company Inc, Houston, TX
His Company Inc is an employee stock ownership plan (esop) located at 6650 Concord Park Dr in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $7,742,900.00 in April, 2020.
$ PPP Loan Information
Lender:PNC BANK, NATIONAL ASSOCIATION
His Company Inc in Houston, TX received a Paycheck Protection Loan of $7.74M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 250 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 372.
Based on standard PPP eligibility rules, His Company Inc's total 2019 payroll expenses were approximately $37.17M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 250 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - His Company Inc in Houston, TX
6650 Concord Park Dr
Houston, TX 77040
Industrial Supplies Merchant Wholesalers (NAICS code 423840)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-18
Similar Companies near Houston
In the Houston area, 14 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 250) and received an average PPP loan of $753,715 (compared to this company's $7.74M).
Similar Nearby Businesses Who Received PPP Funding:
Mobile Industrial Safety Supplies, Inc
World Rig Supply DBA
Cutting Tools, Inc.
North Harris Spring, LLC
Guardian Worldwide, LLC
Fasco Fasteners And Supply Company
Innovative Tooling & Accessories, Inc
Industry PPP Comparison Statistics
Nationwide, 4,186 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $780,956,963.00 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 13 employees, 95% lower than His Company Inc's reported 250 employees, and received an average PPP loan of $186,564, 98% lower than this company's loan of $7.74M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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