PPP Loan Data — Money Management International Inc, Sugar Land, TX
Money Management International Inc
Entity: Non-profit Organization
Location: Sugar Land, TXTweet This • Search All PPP Data
Money Management International Inc is a non-profit organization located at 14141 Southwest Freeway, Suite 1000 in Sugar Land, Texas that received a Coronavirus-related PPP loan from the SBA of $4,776,307.00 in April, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Money Management International Inc received a Paycheck Protection Loan of $4.78M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 100 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 229.
Based on standard PPP eligibility rules, Money Management International Inc's total 2019 payroll expenses were approximately $22.93M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 100 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Money Management International Inc in Sugar Land, TX
14141 Southwest Freeway, Suite 1000
Sugar Land, TX 77478
Financial Transactions Processing, Reserve, and Clearinghouse Activities (NAICS code 522320)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-22
Similar Companies near Sugar Land
In the Sugar Land area, 6 businesses in the "Financial Transactions Processing, Reserve, and Clearinghouse Activities" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 100) and received an average PPP loan of $808,540 (compared to this company's $4.78M).
Similar Nearby Businesses Who Received PPP Funding:
Merchants Group, Inc.
Sugar Land, TX
Sugar Land, TX
Sugar Land, TX
Universal Merchant Processing, LLC
Industry PPP Comparison Statistics
Nationwide, 2,295 businesses in the "Financial Transactions Processing, Reserve, and Clearinghouse Activities" industry received a total of $244,861,474.00 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, 92% lower than Money Management International Inc's reported 100 employees, and received an average PPP loan of $106,693, 98% lower than this company's loan of $4.78M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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