PPP Loan Data — Stis Inc, Bridge City, TX
Location: Bridge City, TXTweet This • Search All PPP Data
Stis Inc is a corporation located at Po Box 1220 in Bridge City, Texas that received a Coronavirus-related PPP loan from the SBA of $5,376,005.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Veritex Community Bank
Stis Inc in Bridge City, TX received a Paycheck Protection Loan of $5.38M through Veritex Community 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, Stis Inc's 2019 payroll expenses are estimated to be at least $25.8M.
Based on their reported 326 jobs retained, this equals an estimated average yearly compensation of $79,156 per employee1
Reported PPP Proceed Usage:
On the PPP application, Stis Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,055,005
- Rent: $21,000
- Health Care: $300,000
Business Information - Stis Inc in Bridge City, TX
Po Box 1220
Bridge City, TX 77611
All Other Miscellaneous Fabricated Metal Product Manufacturing
NAICS code 332999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Bridge City
In the Bridge City area, 2 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 372 employees (compared to this company's 326) and received an average PPP loan of $4,968,315 (compared to this company's $5.38M).
Similar Nearby Businesses Who Received PPP Funding:
Southeast Texas Industries Inc
Industry PPP Comparison Statistics
Nationwide, 7,691 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a total of $1.9B 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 22 employees, 93% lower than Stis Inc's reported 326 employees, and received an average PPP loan of $246,506, 95% lower than this company's loan of $5.38M.
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Footnotes & Information
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