PPP Loan Data — Spanish Meadows Of Katy LTD, Spring, TX
Spanish Meadows Of Katy LTD
Location: Spring, TXTweet This • Search All PPP Data
Spanish Meadows Of Katy LTD is a corporation located at 25009 Oakhurst Dr in Spring, Texas that received a Coronavirus-related PPP loan from the SBA of $1,645,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Spanish Meadows Of Katy LTD in Spring, TX received a Paycheck Protection Loan of $1.65M through Independent Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Spanish Meadows Of Katy LTD's 2019 payroll expenses are estimated to be at least $7.9M.
Based on their reported 227 jobs retained, this equals an estimated average yearly compensation of $34,784 per employee1
Reported PPP Proceed Usage:
On the PPP application, Spanish Meadows Of Katy LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,311,779
- Utilities: $99,011
- Rent: $230,000
- Health Care: $4,210
Business Information - Spanish Meadows Of Katy LTD in Spring, TX
25009 Oakhurst Dr
Spring, TX 77386
Nursing Care Facilities (Skilled Nursing Facilities)
NAICS code 623110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Spring
In the Spring area, 9 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a PPP loan. These local businesses reported an average of 140 employees (compared to this company's 227) and received an average PPP loan of $873,233 (compared to this company's $1.65M).
Similar Nearby Businesses Who Received PPP Funding:
Apollo Rehab At Woodlands LLC
RJ Meridian Care Of Alice, LTD
RJ Meridian Care Of Hebbronville, LTD
Empire Spanish Meadows LTD
RJ Meridian Care Of San Antonio, LTD
Foundation Careplus Group Inc
RJ Meridian Care Of Galveston, LLC
Industry PPP Comparison Statistics
Nationwide, 15,360 businesses in the "Nursing Care Facilities (Skilled Nursing Facilities)" industry received a total of $6.8B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 60 employees, 74% lower than Spanish Meadows Of Katy LTD's reported 227 employees, and received an average PPP loan of $442,944, 73% lower than this company's loan of $1.65M.
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Footnotes & Information
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