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PPP Loan Data — Low-T Centers Inc, Southlake, TX

SBA PPP loan data, payroll data, and salaries for Low-T Centers Inc
TX

Low-T Centers Inc

Entity: Corporation

Industry: Offices of Physicians, Mental Health Specialists

Location: Southlake, TX

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Low-T Centers Inc is a corporation located at 1920 E State Highway 114 in Southlake, Texas that received a Coronavirus-related PPP loan from the SBA of $4,976,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.98M

Jobs Retained:

465

Loan Approved:

2020-04-10

Lender:

PINNACLE BANK

Low-T Centers Inc received a Paycheck Protection Loan of $4.98M through PINNACLE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Low-T Centers Inc's total 2019 payroll expenses were approximately $23.89M in order to qualify for the PPP loan amount received.

Based on their reported 465 jobs retained, this equals an estimated average yearly compensation of $51,372 per employee1.

Because the loan received by Low-T Centers Inc 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 - Low-T Centers Inc in Southlake, TX

Low-T Centers Inc
1920 E State Highway 114
Southlake, TX 76092

Business Industry

Offices of Physicians, Mental Health Specialists (NAICS code 621112)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-24

Similar Companies near Southlake

In the Southlake area, 13 businesses in the "Offices of Physicians, Mental Health Specialists" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 465) and received an average PPP loan of $407,043 (compared to this company's $4.98M).

Industry PPP Comparison Statistics

Nationwide, 13,272 businesses in the "Offices of Physicians, Mental Health Specialists" industry received a total of $1,260,960,972.00 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 8 employees, 98% lower than Low-T Centers Inc's reported 465 employees, and received an average PPP loan of $95,009, 98% lower than this company's loan of $4.98M.

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.

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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/low-t-centers-inc-southlake-tx