PPP Loan Data — Pine Cove Inc, Tyler, TX
Pine Cove Inc is a corporation located at 4410 Kinsey Drive in Tyler, Texas that received a Coronavirus-related PPP loan from the SBA of $2,548,800.00 in April, 2020.
$ PPP Loan Information
Pine Cove Inc in Tyler, TX received a Paycheck Protection Loan of $2.55M through INDEPENDENT BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Pine Cove Inc's total 2019 payroll expenses were approximately $12.23M in order to qualify for the PPP loan amount received.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $48,937 per employee1.
Business Information - Pine Cove Inc in Tyler, TX
4410 Kinsey Drive
Tyler, TX 75703
Religious Organizations (NAICS code 813110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-01
Similar Companies near Tyler
In the Tyler area, 36 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 250) and received an average PPP loan of $153,092 (compared to this company's $2.55M).
Similar Nearby Businesses Who Received PPP Funding:
Progressive Missionary Baptist Church
Primera Asamblea De Dios
Cathedral Of The Immaculate Conception Church
New Generation Baptist Church
Christ Episcopal Church
Glenwood Church Of Christ
Our Saviours Lutheran Church
College Hill Missionary Baptist Church
Industry PPP Comparison Statistics
Nationwide, 90,482 businesses in the "Religious Organizations" industry received a total of $7,309,297,472.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 96% lower than Pine Cove Inc's reported 250 employees, and received an average PPP loan of $80,782, 97% lower than this company's loan of $2.55M.
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, 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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