PPP Loan Data — Texans Medical Weight Loss Clinic, Allen, TX
Texans Medical Weight Loss Clinic is a partnership located at 997 Raintree Cir Suite 180 in Allen, Texas that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Texans Medical Weight Loss Clinic in Allen, TX received a Paycheck Protection Loan of $25,300 through Wallis 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, Texans Medical Weight Loss Clinic's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,288 per employee1
Reported PPP Proceed Usage:
On the PPP application, Texans Medical Weight Loss Clinic reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,140
- Utilities: $50
- Rent: $6,110
Business Information - Texans Medical Weight Loss Clinic in Allen, TX
997 Raintree Cir Suite 180
Allen, TX 75013
All Other Outpatient Care Centers
NAICS code 621498
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Allen
In the Allen area, 5 businesses in the "All Other Outpatient Care Centers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $26,427 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Edge Rehabilitation And Sports Physical Therapy - Allen, LLC
Therapy Exclusive LLC
The Better Brain, Inc
Industry PPP Comparison Statistics
Nationwide, 20,239 businesses in the "All Other Outpatient Care Centers" industry received a total of $1.82B 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 9 employees, 80% higher than Texans Medical Weight Loss Clinic's reported 5 employees, and received an average PPP loan of $90,010, 256% higher than this company's loan of $25,300.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!