PPP Loan Data — Trinity School Of Midland, Midland, TX
Trinity School Of Midland is a non-profit organization located at 3500 W. Wadley Ave in Midland, Texas that received a Coronavirus-related PPP loan from the SBA of $1,535,500.00 in April, 2020.
The company has reported itself as a female owned non-profit, and employed at least 140 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:FirstCapital Bank of Texas, National Association
Trinity School Of Midland in Midland, TX received a Paycheck Protection Loan of $1.54M through FirstCapital Bank of Texas, 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 December, 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, Trinity School Of Midland's 2019 payroll expenses are estimated to be at least $7.37M.
Based on their reported 140 jobs retained, this equals an estimated average yearly compensation of $52,646 per employee1
Reported PPP Proceed Usage:
On the PPP application, Trinity School Of Midland reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,535,500
Business Information - Trinity School Of Midland in Midland, TX
3500 W. Wadley Ave
Midland, TX 79707
Elementary and Secondary Schools
NAICS code 611110
Business Owner Demographics
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 22,714 businesses in the "Elementary and Secondary Schools" industry received a total of $7.35B 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 38 employees, 73% lower than Trinity School Of Midland's reported 140 employees, and received an average PPP loan of $323,643, 79% lower than this company's loan of $1.54M.
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Footnotes & Information
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