PPP Loan Data — Medinc Of Texas, LLC, Houston, TX
Medinc Of Texas, LLC
Entity: Limited Liability Company (LLC)
Location: Houston, TXTweet This • Search All PPP Data
Medinc Of Texas, LLC is a limited liability company (LLC) located at 1771 Crosspoint Ave in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $2,006,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Third Coast Bank SSB
Medinc Of Texas, LLC in Houston, TX received a Paycheck Protection Loan of $2.01M through Third Coast Bank SSB, which was approved in April, 2020.
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, Medinc Of Texas, LLC's 2019 payroll expenses are estimated to be at least $9.63M.
Based on their reported 126 jobs retained, this equals an estimated average yearly compensation of $76,434 per employee1
Reported PPP Proceed Usage:
On the PPP application, Medinc Of Texas, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,006,400
Business Information - Medinc Of Texas, LLC in Houston, TX
1771 Crosspoint Ave
Houston, TX 77054
Other Miscellaneous Durable Goods Merchant Wholesalers
NAICS code 423990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 9 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 126) and received an average PPP loan of $255,271 (compared to this company's $2.01M).
Similar Nearby Businesses Who Received PPP Funding:
Vintage Select Wines LLC
Aabbott-Michelli Technologies, Inc
Industry PPP Comparison Statistics
Nationwide, 26,568 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1.98B 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 7 employees, 94% lower than Medinc Of Texas, LLC's reported 126 employees, and received an average PPP loan of $74,615, 96% lower than this company's loan of $2.01M.
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Footnotes & Information
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