PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Canary Drilling Services LLC, Scottsdale, AZ

ALERT: There are 2 PPP loans for a total of $5.45M in our database for businesses with the name "Canary Drilling Services LLC" in Scottsdale, AZ. 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 Canary Drilling Services LLC
AZ

Canary Drilling Services LLC

Entity: Limited Liability Company (LLC)

Industry: Drilling Oil and Gas Wells

Location: Scottsdale, AZ

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Canary Drilling Services LLC is a limited liability company (LLC) located at 17207 N Perimeter Dr in Scottsdale, Arizona that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.

$ PPP Loan Information
Loan #9773308610

Loan Size:

$2M

Jobs Retained:

294

Loan Approved:

2021-03-26

Loan Status:

Ongoing Loan

Lender:

International Bank of Commerce

Canary Drilling Services LLC in Scottsdale, AZ received a Paycheck Protection Loan of $2M through International Bank of Commerce, which was approved in March, 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, Canary Drilling Services LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 294 jobs retained, this equals an estimated average yearly compensation of $32,653 per employee1

Reported PPP Proceed Usage:

On the PPP application, Canary Drilling Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,997
  • Utilities: $1
Because the loan received by Canary Drilling Services LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Canary Drilling Services LLC in Scottsdale, AZ

Canary Drilling Services LLC
17207 N Perimeter Dr
Scottsdale, AZ 85255

Business Industry:
Drilling Oil and Gas Wells
NAICS code 213111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Maricopa County, AZ — SBA Office 0988 — Congressional District: AZ-06

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Canary Drilling Services LLC.

Scorpion Bay Holdings LLC
Marinas

$156,770 PPP Loan

Similar Companies near Scottsdale

In the Scottsdale area, 2 businesses in the "Drilling Oil and Gas Wells" industry received a PPP loan. These local businesses reported an average of 148 employees (compared to this company's 294) and received an average PPP loan of $1,008,807 (compared to this company's $2M).

Similar Nearby Businesses Who Received PPP Funding:

Robert C. Dye
Scottsdale, AZ

$17,613 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 5,455 businesses in the "Drilling Oil and Gas Wells" industry received a total of $756.88M 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 9 employees, 97% lower than Canary Drilling Services LLC's reported 294 employees, and received an average PPP loan of $138,750, 93% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Canary Drilling Services, LLC
AZ

Canary Drilling Services, LLC

Entity: Limited Liability Company (LLC)

Industry: Support Activities for Oil and Gas Operations

Location: Scottsdale, AZ

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Canary Drilling Services, LLC is a limited liability company (LLC) located at 17207 N. Perimeter Drive, #120 in Scottsdale, Arizona that received a Coronavirus-related PPP loan from the SBA of $3,446,900.00 in April, 2020.

$ PPP Loan Information
Loan #8906247010

Loan Size:

$3.45M

Jobs Retained:

172

Loan Approved:

2020-04-09

Loan Status:

Paid in Full or Forgiven

Lender:

International Bank of Commerce

Canary Drilling Services, LLC in Scottsdale, AZ received a Paycheck Protection Loan of $3.45M through International Bank of Commerce, 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 September, 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, Canary Drilling Services, LLC's 2019 payroll expenses are estimated to be at least $16.55M.

Based on their reported 172 jobs retained, this equals an estimated average yearly compensation of $96,193 per employee1

Reported PPP Proceed Usage:

On the PPP application, Canary Drilling Services, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,446,900
Because the loan received by Canary Drilling Services, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Canary Drilling Services, LLC in Scottsdale, AZ

Canary Drilling Services, LLC
17207 N. Perimeter Drive, #120
Scottsdale, AZ 85255

Business Industry:
Support Activities for Oil and Gas Operations
NAICS code 213112

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Maricopa County, AZ — SBA Office 0988 — Congressional District: AZ-06

Similar Companies near Scottsdale

In the Scottsdale area, 4 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 172) and received an average PPP loan of $1,290,250 (compared to this company's $3.45M).

Industry PPP Comparison Statistics

Nationwide, 20,749 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 Canary Drilling Services, LLC's reported 172 employees, and received an average PPP loan of $185,324, 95% lower than this company's loan of $3.45M.

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/canary-drilling-services-llc-scottsdale-az