PPP Loan Data — 5J Oilfield Services LLC, Palestine, TX
5J Oilfield Services LLC
Entity: Limited Liability Company (LLC)
Location: Palestine, TXTweet This • Search All PPP Data
5J Oilfield Services LLC is a limited liability company (LLC) located at 4090 Us Highway 79 in Palestine, Texas that received a Coronavirus-related PPP loan from the SBA of $3,148,100.00 in April, 2020.
$ PPP Loan Information
Lender:HANCOCK WHITNEY BANK
5J Oilfield Services LLC in Palestine, TX received a Paycheck Protection Loan of $3.15M through HANCOCK WHITNEY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, 5J Oilfield Services LLC's total 2019 payroll expenses were approximately $15.11M in order to qualify for the PPP loan amount received.
Based on their reported 261 jobs retained, this equals an estimated average yearly compensation of $57,896 per employee1.
Business Information - 5J Oilfield Services LLC in Palestine, TX
4090 Us Highway 79
Palestine, TX 75801
Specialized Freight (except Used Goods) Trucking, Local (NAICS code 484220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-05
Industry PPP Comparison Statistics
Nationwide, 15,820 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a total of $1,349,363,237.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 7 employees, 97% lower than 5J Oilfield Services LLC's reported 261 employees, and received an average PPP loan of $85,295, 97% lower than this company's loan of $3.15M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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