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PPP Loan Data — University Management Inc,
Columbus, MS
University Management Inc
Entity: Corporation
Industry: Full-Service Restaurants
Location: Columbus, MS
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University Management Inc is a corporation located at 104 3rd Street South in Columbus, Mississippi that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as a White male owned business, and employed at least 300 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9773908406
Loan Size:
Jobs Retained:
300Loan Approved:
2021-02-17Loan Status:
Paid in Full or ForgivenLender:
Itria Ventures LLCUniversity Management Inc in Columbus, MS received a Paycheck Protection Loan of $2M through Itria Ventures LLC, which was approved in February, 2021.
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 October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, University Management Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 300 jobs retained, this equals an estimated average yearly compensation of $32,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, University Management Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - University Management Inc in Columbus, MS
104 3rd Street South
Columbus, MS 39701
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: White
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Rural
Similar Companies near Columbus
In the Columbus area, 25 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 300) and received an average PPP loan of $126,500 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Rubs Pub LLC
Columbus, MS
Zachary's Of Columbus, LLC
Columbus, MS
Troy Parnell's Little Dooey Of Columbus, Inc
Columbus, MS
Kays Left Overs Catering
Columbus, MS
New China Royal, Inc
Columbus, MS
Abdul Karriem
Columbus, MS
J Broussards Inc
Columbus, MS
Tampico Bay University Side LLC
Columbus, MS
Jb&B LLC
Columbus, MS
Industry PPP Comparison Statistics
Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 93% lower than University Management Inc's reported 300 employees, and received an average PPP loan of $130,209, 93% lower than this company's loan of $2M.
University Management, Inc
Entity: Corporation
Industry: Full-Service Restaurants
Location: Columbus, MS
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University Management, Inc is a corporation located at P O Box 1368 in Columbus, Mississippi that received a Coronavirus-related PPP loan from the SBA of $2,659,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 500 people during the applicable loan loan period.
$
PPP Loan Information
Loan #8209347010
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-08Loan Status:
Paid in Full or ForgivenLender:
Renasant BankUniversity Management, Inc in Columbus, MS received a Paycheck Protection Loan of $2.66M through Renasant 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, University Management, Inc's 2019 payroll expenses are estimated to be at least $12.76M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $25,526 per employee1
Reported PPP Proceed Usage:
On the PPP application, University Management, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,659,000
Business Information - University Management, Inc in Columbus, MS
P O Box 1368
Columbus, MS 39703
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: White
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Rural
Similar Companies near Columbus
In the Columbus area, 13 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 500) and received an average PPP loan of $246,803 (compared to this company's $2.66M).
Similar Nearby Businesses Who Received PPP Funding:
Breakin Bread Cafe
Columbus, MS
Inez's Southern Caf
Columbus, MS
Jb&B LLC
Columbus, MS
Huckaby Bros. Management, LLC
Columbus, MS
Fish And Blues LLC
Columbus, MS
Rodger D. James, LLC
Columbus, MS
Farmstead Restaurant LLC
Columbus, MS
Frederick Rogers
Columbus, MS
Industry PPP Comparison Statistics
Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 96% lower than University Management, Inc's reported 500 employees, and received an average PPP loan of $130,209, 95% lower than this company's loan of $2.66M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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