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PPP Loan Data — Lubbock Regional Mental Health Mental Retardation Center, Lubbock, TX

SBA PPP loan data, payroll data, and salaries for Lubbock Regional Mental Health Mental Retardation Center
TX Nonprofit Organization

Lubbock Regional Mental Health Mental Retardation Center

Entity: Non-profit Organization

Industry: Psychiatric and Substance Abuse Hospitals

Location: Lubbock, TX

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Lubbock Regional Mental Health Mental Retardation Center is a non-profit organization located at 904 Avenue O in Lubbock, Texas that received a Coronavirus-related PPP loan from the SBA of $4,572,800.00 in April, 2020.

The company has reported itself as a male owned non-profit, and employed at least 463 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.57M

Jobs Retained:

463

Loan Approved:

2020-04-30

Lender:

PROSPERITY BANK

Lubbock Regional Mental Health Mental Retardation Center received a Paycheck Protection Loan of $4.57M through PROSPERITY BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Lubbock Regional Mental Health Mental Retardation Center's total 2019 payroll expenses were approximately $21.95M in order to qualify for the PPP loan amount received.

Based on their reported 463 jobs retained, this equals an estimated average yearly compensation of $47,407 per employee1.

Because the loan received by Lubbock Regional Mental Health Mental Retardation Center 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 - Lubbock Regional Mental Health Mental Retardation Center in Lubbock, TX

Lubbock Regional Mental Health Mental Retardation Center
904 Avenue O
Lubbock, TX 79401

Business Industry

Psychiatric and Substance Abuse Hospitals (NAICS code 622210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: TX-19

Industry PPP Comparison Statistics

Nationwide, 767 businesses in the "Psychiatric and Substance Abuse Hospitals" industry received a total of $269,257,685.00 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 34 employees, 93% lower than Lubbock Regional Mental Health Mental Retardation Center's reported 463 employees, and received an average PPP loan of $351,053, 92% lower than this company's loan of $4.57M.

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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Source: www.federalpay.org/paycheck-protection-program/lubbock-regional-mental-health-mental-retardation-center-lubbock-tx