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PPP Loan Data — Automated Wellhead Compression LLC, Farmington, NM

ALERT: There are 2 PPP loans for a total of $889,093 in our database for businesses with the name "Automated Wellhead Compression LLC" in Farmington, NM. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Automated Wellhead Compression LLC
NM

Automated Wellhead Compression LLC

Entity: Corporation

Industry: Oil and Gas Field Machinery and Equipment Manufacturing

Location: Farmington, NM

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Automated Wellhead Compression LLC is a corporation located at 5691 Us 64 in Farmington, New Mexico that received a Coronavirus-related PPP loan from the SBA of $483,093.00 in January, 2021.

The company has reported itself as a male owned business, and employed at least 36 people during the applicable loan loan period.

$ PPP Loan Information
Loan #8446508304

Loan Size:

$483,093

Jobs Retained:

36

Loan Approved:

2021-01-29

Loan Status:

Ongoing Loan

Lender:

Colony Bank

Automated Wellhead Compression LLC in Farmington, NM received a Paycheck Protection Loan of $483,093 through Colony Bank, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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 More
Understanding 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 More

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, Automated Wellhead Compression LLC's 2019 payroll expenses are estimated to be at least $2.32M.

Based on their reported 36 jobs retained, this equals an estimated average yearly compensation of $64,412 per employee1

Reported PPP Proceed Usage:

On the PPP application, Automated Wellhead Compression LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $483,090
  • Utilities: $1

Business Information - Automated Wellhead Compression LLC in Farmington, NM

Automated Wellhead Compression LLC
5691 Us 64
Farmington, NM 87401

Business Industry:
Oil and Gas Field Machinery and Equipment Manufacturing
NAICS code 333132

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

San Juan County, NM — SBA Office 0682 — Congressional District: NM-03

Similar Companies near Farmington

In the Farmington area, 7 businesses in the "Oil and Gas Field Machinery and Equipment Manufacturing" industry received a PPP loan. These local businesses reported an average of 87 employees (compared to this company's 36) and received an average PPP loan of $1,428,608 (compared to this company's $483,093).

Industry PPP Comparison Statistics

Nationwide, 1,504 businesses in the "Oil and Gas Field Machinery and Equipment Manufacturing" industry received a total of $534.02M 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 24 employees, 33% lower than Automated Wellhead Compression LLC's reported 36 employees, and received an average PPP loan of $355,070, 27% lower than this company's loan of $483,093.

SBA PPP loan data, payroll data, and salaries for Automated Wellhead Compression, LLC
NM

Automated Wellhead Compression, LLC

Entity: Corporation

Industry: Other Commercial and Industrial Machinery and Equipment Rental and Leasing

Location: Farmington, NM

Search All PPP Data

Automated Wellhead Compression, LLC is a corporation located at 5691 Highway 64 in Farmington, New Mexico that received a Coronavirus-related PPP loan from the SBA of $406,000.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 40 people during the applicable loan loan period.

$ PPP Loan Information
Loan #3716477201

Loan Size:

$406,000

Jobs Retained:

40

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

First Financial CU

Automated Wellhead Compression, LLC in Farmington, NM received a Paycheck Protection Loan of $406,000 through First Financial CU, 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 February, 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 More
Understanding 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 More

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, Automated Wellhead Compression, LLC's 2019 payroll expenses are estimated to be at least $1.95M.

Based on their reported 40 jobs retained, this equals an estimated average yearly compensation of $48,720 per employee1

Reported PPP Proceed Usage:

On the PPP application, Automated Wellhead Compression, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $406,000

Business Information - Automated Wellhead Compression, LLC in Farmington, NM

Automated Wellhead Compression, LLC
5691 Highway 64
Farmington, NM 87401

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

San Juan County, NM — SBA Office 0682 — Congressional District: NM-03

Similar Companies near Farmington

In the Farmington area, 2 businesses in the "Other Commercial and Industrial Machinery and Equipment Rental and Leasing" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 40) and received an average PPP loan of $226,666 (compared to this company's $406,000).

Similar Nearby Businesses Who Received PPP Funding:

Tri Energy Services, Inc
Farmington, NM

$47,332 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 6,322 businesses in the "Other Commercial and Industrial Machinery and Equipment Rental and Leasing" industry received a total of $984.96M 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 13 employees, 68% lower than Automated Wellhead Compression, LLC's reported 40 employees, and received an average PPP loan of $155,798, 62% lower than this company's loan of $406,000.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/automated-wellhead-compression-llc-farmington-nm