PPP Loan Data — Texas Enterprises, Inc, Austin, TX
Texas Enterprises, Inc
Entity: Subchapter S Corporation
Location: Austin, TXTweet This • Search All PPP Data
Texas Enterprises, Inc is a subchapter s corporation located at 4911 E 7th St 0.0 in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $3,716,047.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Texas Enterprises, Inc in Austin, TX received a Paycheck Protection Loan of $3.72M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.Read More
Understanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.Read More
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, Texas Enterprises, Inc's 2019 payroll expenses are estimated to be at least $17.84M.
Based on their reported 260 jobs retained, this equals an estimated average yearly compensation of $68,604 per employee1
Reported PPP Proceed Usage:
On the PPP application, Texas Enterprises, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,921,960
- Utilities: $33,970
- Rent: $303,890
- Health Care: $316,837
- Debt Interest: $139,390
Business Information - Texas Enterprises, Inc in Austin, TX
4911 E 7th St 0.0
Austin, TX 78702
Motor Vehicle Supplies and New Parts Merchant Wholesalers
NAICS code 423120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,707 businesses in the "Motor Vehicle Supplies and New Parts Merchant Wholesalers" industry received a total of $787.78M 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 14 employees, 95% lower than Texas Enterprises, Inc's reported 260 employees, and received an average PPP loan of $138,037, 96% lower than this company's loan of $3.72M.
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Footnotes & Information
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