PPP Loan Data — South Texas College Of Law Houston, Inc., Houston, TX
South Texas College Of Law Houston, Inc. is a non-profit organization located at 1303 San Jacinto in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $3,309,737.00 in April, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
South Texas College Of Law Houston, Inc. in Houston, TX received a Paycheck Protection Loan of $3.31M 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 80 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 159.
Based on standard PPP eligibility rules, South Texas College Of Law Houston, Inc.'s total 2019 payroll expenses were approximately $15.89M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 80 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - South Texas College Of Law Houston, Inc. in Houston, TX
1303 San Jacinto
Houston, TX 77002
Colleges, Universities, and Professional Schools (NAICS code 611310)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-18
Industry PPP Comparison Statistics
Nationwide, 2,077 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $1,723,864,433.00 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 86 employees, 8% higher than South Texas College Of Law Houston, Inc.'s reported 80 employees, and received an average PPP loan of $829,978, 75% lower than this company's loan of $3.31M.
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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