PPP Loan Data — New Era Life Insurance Company, Houston, TX
New Era Life Insurance Company is a corporation located at 11720 Katy Fwy Ste 1700 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $2,850,360.00 in April, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
New Era Life Insurance Company received a Paycheck Protection Loan of $2.85M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, New Era Life Insurance Company's total 2019 payroll expenses were approximately $13.68M in order to qualify for the PPP loan amount received.
Based on their reported 272 jobs retained, this equals an estimated average yearly compensation of $50,300 per employee1.
Business Information - New Era Life Insurance Company in Houston, TX
11720 Katy Fwy Ste 1700
Houston, TX 77079
Direct Life Insurance Carriers (NAICS code 524113)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-02
Similar Companies near Houston
In the Houston area, 3 businesses in the "Direct Life Insurance Carriers" industry received a PPP loan. These local businesses reported an average of 93 employees (compared to this company's 272) and received an average PPP loan of $990,694 (compared to this company's $2.85M).
Similar Nearby Businesses Who Received PPP Funding:
Physicians Mutual INS Company
Bcsg Insurance Services LLC
Industry PPP Comparison Statistics
Nationwide, 2,070 businesses in the "Direct Life Insurance Carriers" industry received a total of $111,536,867.00 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 5 employees, 98% lower than New Era Life Insurance Company's reported 272 employees, and received an average PPP loan of $53,883, 98% lower than this company's loan of $2.85M.
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.
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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