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PPP Loan Data — Advanced Oilfield Services LLC,
Platteville, CO
Advanced Oilfield Services LLC
Entity: Limited Liability Company (LLC)
Industry: Support Activities for Oil and Gas Operations
Location: Platteville, CO
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Advanced Oilfield Services LLC is a limited liability company (LLC) located at 804 Grand Ave in Platteville, Colorado that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 167 people during the applicable loan loan period.
$
PPP Loan Information
Loan #7597908309
Loan Size:
Jobs Retained:
167Loan Approved:
2021-01-28Loan Status:
Paid in Full or ForgivenLender:
Bank of ColoradoAdvanced Oilfield Services LLC in Platteville, CO received a Paycheck Protection Loan of $2M through Bank of Colorado, which was approved in January, 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 February, 2022.
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, Advanced Oilfield Services LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 167 jobs retained, this equals an estimated average yearly compensation of $57,485 per employee1
Reported PPP Proceed Usage:
On the PPP application, Advanced Oilfield Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,996
- Utilities: $1
Business Information - Advanced Oilfield Services LLC in Platteville, CO
804 Grand Ave
Platteville, CO 80651
Business Industry:
Support Activities for Oil and Gas Operations
NAICS code 213112
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Platteville
In the Platteville area, 8 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 167) and received an average PPP loan of $861,893 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Coffey Consulting, LLC
Roggen, CO
Paul C Briggs
Pierce, CO
Front Range Line Services, LLC
Platteville, CO
Bravo Services, Inc
Platteville, CO
3 Corners Oilfield Services Inc
Platteville, CO
Industry PPP Comparison Statistics
Nationwide, 20,748 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.85B 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 12 employees, 93% lower than Advanced Oilfield Services LLC's reported 167 employees, and received an average PPP loan of $185,324, 91% lower than this company's loan of $2M.
Advanced Oilfield Services LLC
Entity: Limited Liability Company (LLC)
Industry: Support Activities for Oil and Gas Operations
Location: Platteville, CO
Tweet This
•
Search All PPP Data
Advanced Oilfield Services LLC is a limited liability company (LLC) located at 804 Grand Ave in Platteville, Colorado that received a Coronavirus-related PPP loan from the SBA of $3,748,500.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 181 people during the applicable loan loan period.
$
PPP Loan Information
Loan #3821717203
Loan Size:
Jobs Retained:
181Loan Approved:
2020-04-27Loan Status:
Paid in Full or ForgivenLender:
Bank of ColoradoAdvanced Oilfield Services LLC in Platteville, CO received a Paycheck Protection Loan of $3.75M through Bank of Colorado, 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 August, 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, Advanced Oilfield Services LLC's 2019 payroll expenses are estimated to be at least $17.99M.
Based on their reported 181 jobs retained, this equals an estimated average yearly compensation of $99,408 per employee1
Reported PPP Proceed Usage:
On the PPP application, Advanced Oilfield Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,748,500
Business Information - Advanced Oilfield Services LLC in Platteville, CO
804 Grand Ave
Platteville, CO 80651
Business Industry:
Support Activities for Oil and Gas Operations
NAICS code 213112
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Platteville
In the Platteville area, 8 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 181) and received an average PPP loan of $861,893 (compared to this company's $3.75M).
Similar Nearby Businesses Who Received PPP Funding:
Coffey Consulting, LLC
Roggen, CO
Paul C Briggs
Pierce, CO
Front Range Line Services, LLC
Platteville, CO
Bravo Services, Inc
Platteville, CO
3 Corners Oilfield Services Inc
Platteville, CO
Industry PPP Comparison Statistics
Nationwide, 20,748 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.85B 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 12 employees, 93% lower than Advanced Oilfield Services LLC's reported 181 employees, and received an average PPP loan of $185,324, 95% lower than this company's loan of $3.75M.
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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