PPP Loan Data — ACE Completions LLC, Odessa, TX
ACE Completions LLC is a limited liability company (LLC) located at 620 North Grant Avenue in Odessa, Texas that received a Coronavirus-related PPP loan from the SBA of $3,002,500.00 in April, 2020.
The company has reported itself as a White owned business, and employed at least 145 people during the applicable loan loan period.
$ PPP Loan Information
Lender:CADENCE BANK, NATIONAL ASSOCIATION
ACE Completions LLC received a Paycheck Protection Loan of $3M through CADENCE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, ACE Completions LLC's total 2019 payroll expenses were approximately $14.41M in order to qualify for the PPP loan amount received.
Based on their reported 145 jobs retained, this equals an estimated average yearly compensation of $99,393 per employee1.
Business Information - ACE Completions LLC in Odessa, TX
620 North Grant Avenue
Odessa, TX 79761
Support Activities for Oil and Gas Operations (NAICS code 213112)
Business Owner Demographics
Race / Ethnicity: WHITE
Veteran Status: NON-VETERANCongressional District: TX-11
Similar Companies near Odessa
In the Odessa area, 90 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 145) and received an average PPP loan of $178,117 (compared to this company's $3M).
Similar Nearby Businesses Who Received PPP Funding:
Chelly & Bros LLC
G & R G Inc
Oilfield Dirtworx LLC
J&A Sandblasting Painting & More
Amerus Oilfield Soultions, LLC
Elijah Energy Services Inc
Harvest Oil Services, LLC
Irob Solutions, LLC
Industry PPP Comparison Statistics
Nationwide, 11,335 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $2,439,543,076.00 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 13 employees, 91% lower than ACE Completions LLC's reported 145 employees, and received an average PPP loan of $215,222, 93% lower than this company's loan of $3M.
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.
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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