PPP Loan Data — The Better Brain, Inc, Allen, TX
The Better Brain, Inc is a corporation located at 204 Glenwick Pl in Allen, Texas that received a Coronavirus-related PPP loan from the SBA of $11,600.00 in April, 2020.
The company has reported itself as a male veteran owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
The Better Brain, Inc in Allen, TX received a Paycheck Protection Loan of $11,600 through Prosperity Bank, 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 August, 2021.
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, The Better Brain, Inc's 2019 payroll expenses are estimated to be at least $55,680.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $27,840 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Better Brain, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $11,600
Business Information - The Better Brain, Inc in Allen, TX
204 Glenwick Pl
Allen, TX 75013
All Other Outpatient Care Centers
NAICS code 621498
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as The Better Brain, Inc.
Better Brain Inc
Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
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 2) and received an average PPP loan of $26,427 (compared to this company's $11,600).
Similar Nearby Businesses Who Received PPP Funding:
Edge Rehabilitation And Sports Physical Therapy - Allen, LLC
Texans Medical Weight Loss Clinic
Therapy Exclusive LLC
Industry PPP Comparison Statistics
Nationwide, 17,160 businesses in the "All Other Outpatient Care Centers" industry received a total of $1.75B 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 10 employees, 400% higher than The Better Brain, Inc's reported 2 employees, and received an average PPP loan of $102,024, 780% higher than this company's loan of $11,600.
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Footnotes & Information
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