PPP Loan Data — Tresten Sneed & Associates Inc, Houston, TX
Tresten Sneed & Associates Inc
Location: Houston, TXTweet This • Search All PPP Data
Tresten Sneed & Associates Inc is a corporation located at 1625 Sam Houston Pkwy in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $1,694,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Tresten Sneed & Associates Inc in Houston, TX received a Paycheck Protection Loan of $1.69M through Truist Bank d/b/a Branch Banking & Trust Co, 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 February, 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, Tresten Sneed & Associates Inc's 2019 payroll expenses are estimated to be at least $8.14M.
Based on their reported 134 jobs retained, this equals an estimated average yearly compensation of $60,709 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tresten Sneed & Associates Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,694,800
Business Information - Tresten Sneed & Associates Inc in Houston, TX
1625 Sam Houston Pkwy
Houston, TX 77043
Metal Service Centers and Other Metal Merchant Wholesalers
NAICS code 423510
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 4 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 134) and received an average PPP loan of $483,214 (compared to this company's $1.69M).
Similar Nearby Businesses Who Received PPP Funding:
Baowin Steel LLC
Global Metals & Alloys LLC
Industry PPP Comparison Statistics
Nationwide, 4,182 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a total of $967.29M 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 19 employees, 86% lower than Tresten Sneed & Associates Inc's reported 134 employees, and received an average PPP loan of $231,298, 86% lower than this company's loan of $1.69M.
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Footnotes & Information
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