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PPP Loan Data — Scottish American Management, LLC, Grapevine, TX

SBA PPP loan data, payroll data, and salaries for Scottish American Management, LLC
TX

Scottish American Management, LLC

Entity: Limited Liability Company (LLC)

Industry: All Other Insurance Related Activities

Location: Grapevine, TX

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Scottish American Management, LLC is a limited liability company (LLC) located at 627 W. College Street in Grapevine, Texas that received a Coronavirus-related PPP loan from the SBA of $2,740,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.74M

Jobs Retained:

180

Loan Approved:

2020-04-10

Lender:

FIRST FINANCIAL BANK

Scottish American Management, LLC received a Paycheck Protection Loan of $2.74M through FIRST FINANCIAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Scottish American Management, LLC's total 2019 payroll expenses were approximately $13.15M in order to qualify for the PPP loan amount received.

Based on their reported 180 jobs retained, this equals an estimated average yearly compensation of $73,083 per employee1.

Because the loan received by Scottish American Management, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Scottish American Management, LLC in Grapevine, TX

Scottish American Management, LLC
627 W. College Street
Grapevine, TX 76051

Business Industry

All Other Insurance Related Activities (NAICS code 524298)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-24

Similar Companies near Grapevine

In the Grapevine area, 4 businesses in the "All Other Insurance Related Activities" industry received a PPP loan. These local businesses reported an average of 56 employees (compared to this company's 180) and received an average PPP loan of $887,575 (compared to this company's $2.74M).

Industry PPP Comparison Statistics

Nationwide, 5,456 businesses in the "All Other Insurance Related Activities" industry received a total of $365,950,045.00 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, 97% lower than Scottish American Management, LLC's reported 180 employees, and received an average PPP loan of $67,073, 98% lower than this company's loan of $2.74M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/scottish-american-management-llc-grapevine-tx