PPP Loan Data — Twenty2Twelve Inc, Austin, TX
Industry: Other Similar Organizations (except Business, Professional, Labor, and Political Organizations)
Location: Austin, TXTweet This • Search All PPP Data
Twenty2Twelve Inc is a corporation located at 800 W 5th St Apt 1203 in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Twenty2Twelve Inc in Austin, TX received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Twenty2Twelve Inc's 2019 payroll expenses are estimated to be at least $120,000 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Twenty2Twelve Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Twenty2Twelve Inc in Austin, TX
800 W 5th St Apt 1203
Austin, TX 78703
Other Similar Organizations (except Business, Professional, Labor, and Political Organizations)
NAICS code 813990
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Austin
In the Austin area, 14 businesses in the "Other Similar Organizations (except Business, Professional, Labor, and Political Organizations)" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 1) and received an average PPP loan of $166,516 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Kinsman Spirits Inc
ATX Kids Club
Virginia Ivey Realtors
Digital Workforce Academy Inc
Spring Austin Owners Association
Friends Of The Co. River Foundation Inc
Austin Creative Alliance, Inc
Austin Creative Alliance
Industry PPP Comparison Statistics
Nationwide, 8,934 businesses in the "Other Similar Organizations (except Business, Professional, Labor, and Political Organizations)" industry received a total of $676.03M 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 9 employees, 800% higher than Twenty2Twelve Inc's reported 1 employees, and received an average PPP loan of $75,670, 203% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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