PPP Loan Data — Stratus Properties Inc, Austin, TX
Stratus Properties Inc is a corporation located at 212 Lavaca Street in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $3,987,107.00 in April, 2020.
$ PPP Loan Information
Lender:TEXAS CAPITAL BANK, NATIONAL ASSOCIATION
Stratus Properties Inc received a Paycheck Protection Loan of $3.99M through TEXAS CAPITAL 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 63 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 191.
Based on standard PPP eligibility rules, Stratus Properties Inc's total 2019 payroll expenses were approximately $19.14M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 63 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Stratus Properties Inc in Austin, TX
212 Lavaca Street
Austin, TX 78701
Lessors of Other Real Estate Property (NAICS code 531190)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-21
Similar Companies near Austin
In the Austin area, 7 businesses in the "Lessors of Other Real Estate Property" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 63) and received an average PPP loan of $630,988 (compared to this company's $3.99M).
Similar Nearby Businesses Who Received PPP Funding:
NCP Equity LLC
Austin Executive Lodging
DEN Property Group
Riverside Resources Property Management LTD
Varela Properties, LLC
Industry PPP Comparison Statistics
Nationwide, 8,405 businesses in the "Lessors of Other Real Estate Property" industry received a total of $566,351,970.00 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 6 employees, 90% lower than Stratus Properties Inc's reported 63 employees, and received an average PPP loan of $67,383, 98% lower than this company's loan of $3.99M.
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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