PPP Loan Data — Lutheran Education Association Of Housto, Friendswood, TX
Lutheran Education Association Of Housto is a non-profit organization located at 316 E Edgewood Drive in Friendswood, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2020.
The company has reported itself as a female owned non-profit, and employed at least 134 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Lutheran Education Association Of Housto in Friendswood, TX received a Paycheck Protection Loan of $2M through Wells Fargo Bank, National Association, which was approved in April, 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 June, 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, Lutheran Education Association Of Housto's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 134 jobs retained, this equals an estimated average yearly compensation of $71,642 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lutheran Education Association Of Housto reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Lutheran Education Association Of Housto in Friendswood, TX
316 E Edgewood Drive
Friendswood, TX 77546
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Friendswood
In the Friendswood area, 8 businesses in the "Elementary and Secondary Schools" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 134) and received an average PPP loan of $397,569 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Museum Kids Academy LLC
Good Shepherd Episcopal School, Friendswood
1ST Source Adjuster School
The Galloway School
Friendswood Trs, LLC
Industry PPP Comparison Statistics
Nationwide, 22,714 businesses in the "Elementary and Secondary Schools" industry received a total of $7.35B 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 38 employees, 72% lower than Lutheran Education Association Of Housto's reported 134 employees, and received an average PPP loan of $323,643, 84% lower than this company's loan of $2M.
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Footnotes & Information
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