PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — LAB Services Inc, Mission, TX

ALERT: There are 2 PPP loans for a total of $38,200 in our database for businesses with the name "LAB Services Inc" in Mission, TX. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for LAB Services Inc
TX

LAB Services Inc

Entity: Limited Liability Company (LLC)

Industry: Medical Laboratories

Location: Mission, TX

Search All PPP Data

LAB Services Inc is a limited liability company (LLC) located at 2031 E Griffin Pkwy in Mission, Texas that received a Coronavirus-related PPP loan from the SBA of $13,200.00 in February, 2021.

The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.

$ PPP Loan Information
Loan #2843238400

Loan Size:

$13,200

Jobs Retained:

3

Loan Approved:

2021-02-04

Loan Status:

Ongoing Loan

Lender:

Frost Bank

LAB Services Inc in Mission, TX received a Paycheck Protection Loan of $13,200 through Frost Bank, which was approved in February, 2021.

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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, LAB Services Inc's 2019 payroll expenses are estimated to be at least $63,360.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $21,120 per employee1

Reported PPP Proceed Usage:

On the PPP application, LAB Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $13,198
  • Utilities: $1

Business Information - LAB Services Inc in Mission, TX

LAB Services Inc
2031 E Griffin Pkwy
Mission, TX 78572

Business Industry:
Medical Laboratories
NAICS code 621511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hidalgo County, TX — SBA Office 0639 — Congressional District: TX-15

Similar Companies near Mission

In the Mission area, 3 businesses in the "Medical Laboratories" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 3) and received an average PPP loan of $24,919 (compared to this company's $13,200).

Similar Nearby Businesses Who Received PPP Funding:

AML Parkway LTD
Mission, TX

$36,557 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 5,753 businesses in the "Medical Laboratories" industry received a total of $848.85M 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 14 employees, 367% higher than LAB Services Inc's reported 3 employees, and received an average PPP loan of $147,548, 1018% higher than this company's loan of $13,200.

SBA PPP loan data, payroll data, and salaries for LAB Services Inc
TX

LAB Services Inc

Entity: Limited Liability Company (LLC)

Industry: Medical Laboratories

Location: Mission, TX

Search All PPP Data

LAB Services Inc is a limited liability company (LLC) located at 2031 E Griffin Pkwy in Mission, Texas that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 170 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6970137105

Loan Size:

$25,000

Jobs Retained:

170

Loan Approved:

2020-04-14

Loan Status:

Ongoing Loan

Lender:

Frost Bank

LAB Services Inc in Mission, TX received a Paycheck Protection Loan of $25,000 through Frost Bank, 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, LAB Services Inc's 2019 payroll expenses are estimated to be at least $120,000.

Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $706 per employee1

Reported PPP Proceed Usage:

On the PPP application, LAB Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $10,456
  • Refinance EIDL: $14,544

Business Information - LAB Services Inc in Mission, TX

LAB Services Inc
2031 E Griffin Pkwy
Mission, TX 78572

Business Industry:
Medical Laboratories
NAICS code 621511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hidalgo County, TX — SBA Office 0639 — Congressional District: TX-15

Similar Companies near Mission

In the Mission area, 3 businesses in the "Medical Laboratories" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 170) and received an average PPP loan of $24,919 (compared to this company's $25,000).

Similar Nearby Businesses Who Received PPP Funding:

AML Parkway LTD
Mission, TX

$36,557 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 5,753 businesses in the "Medical Laboratories" industry received a total of $848.85M 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 14 employees, 92% lower than LAB Services Inc's reported 170 employees, and received an average PPP loan of $147,548, 490% higher than this company's loan of $25,000.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/lab-services-inc-mission-tx