PPP Loan Data — Texas Heart Institute, Houston, TX
Texas Heart Institute is a non-profit organization located at 6770 Bertner Ave, Mc3-116 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $2,351,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Texas Heart Institute in Houston, TX received a Paycheck Protection Loan of $2.35M through Frost 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, Texas Heart Institute's 2019 payroll expenses are estimated to be at least $11.29M.
Based on their reported 159 jobs retained, this equals an estimated average yearly compensation of $71,001 per employee1
Reported PPP Proceed Usage:
On the PPP application, Texas Heart Institute reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,351,900
Business Information - Texas Heart Institute in Houston, TX
6770 Bertner Ave, Mc3-116
Houston, TX 77030
Professional and Management Development Training
NAICS code 611430
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 12,077 businesses in the "Professional and Management Development Training" industry received a total of $602.02M 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 4 employees, 97% lower than Texas Heart Institute's reported 159 employees, and received an average PPP loan of $49,849, 98% lower than this company's loan of $2.35M.
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Footnotes & Information
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