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PPP Loan Data — Southern Mail Service Inc, Conroe, TX

SBA PPP loan data, payroll data, and salaries for Southern Mail Service Inc
TX

Southern Mail Service Inc

Entity: Corporation

Industry: Postal Service

Location: Conroe, TX

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Southern Mail Service Inc is a corporation located at 2505 North Frazier St in Conroe, Texas that received a Coronavirus-related PPP loan from the SBA of $8,766,155.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$8.77M

Jobs Retained:

500

Loan Approved:

2020-04-27

Lender:

COMMUNITYBANK OF TEXAS, NATIONAL ASSOCIATION

Southern Mail Service Inc received a Paycheck Protection Loan of $8.77M through COMMUNITYBANK OF TEXAS, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Southern Mail Service Inc's total 2019 payroll expenses were approximately $42.08M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $84,155 per employee1.

Because the loan received by Southern Mail Service Inc 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 - Southern Mail Service Inc in Conroe, TX

Southern Mail Service Inc
2505 North Frazier St
Conroe, TX 77303

Business Industry

Postal Service (NAICS code 491110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-08

Industry PPP Comparison Statistics

Nationwide, 500 businesses in the "Postal Service" industry received a total of $36,183,470.00 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, 98% lower than Southern Mail Service Inc's reported 500 employees, and received an average PPP loan of $72,367, 99% lower than this company's loan of $8.77M.

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/southern-mail-service-inc-conroe-tx