PPP Loan Data — Century Oil Co, Inc, Indianapolis, IN
Century Oil Co, Inc is a corporation located at 7350 W Washington St in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $45,964.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Merchants Bank
Century Oil Co, Inc in Indianapolis, IN received a Paycheck Protection Loan of $45,964 through First Merchants Bank, 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 January, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Century Oil Co, Inc's 2019 payroll expenses are estimated to be at least $220,627.
Based on their reported 16 jobs retained, this equals an estimated average yearly compensation of $13,789 per employee1
Reported PPP Proceed Usage:
On the PPP application, Century Oil Co, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,964
Business Information - Century Oil Co, Inc in Indianapolis, IN
7350 W Washington St
Indianapolis, IN 46231
Gasoline Stations with Convenience Stores
NAICS code 447110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Indianapolis
In the Indianapolis area, 7 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 16) and received an average PPP loan of $24,808 (compared to this company's $45,964).
Similar Nearby Businesses Who Received PPP Funding:
SDS Oil, Inc
SKI Petro Inc
Indy Mart Gas Inc
Fuel Zone Inc
Industry PPP Comparison Statistics
Nationwide, 45,026 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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 10 employees, 38% lower than Century Oil Co, Inc's reported 16 employees, and received an average PPP loan of $45,821, 0% higher than this company's loan of $45,964.
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Footnotes & Information
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