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

PPP Loan Data — Coastal Plains Exploration LLC, Port Lavaca, TX

ALERT: There are 2 PPP loans for a total of $71,800 in our database for businesses with the name "Coastal Plains Exploration LLC" in Port Lavaca, TX. 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 Coastal Plains Exploration LLC
TX

Coastal Plains Exploration LLC

Entity: Limited Liability Company (LLC)

Industry: Support Activities for Oil and Gas Operations

Location: Port Lavaca, TX

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Coastal Plains Exploration LLC is a limited liability company (LLC) located at 323 Alcoa Dr in Port Lavaca, Texas that received a Coronavirus-related PPP loan from the SBA of $59,300.00 in February, 2021.

$ PPP Loan Information
Loan #4057768506

Loan Size:

$59,300

Jobs Retained:

3

Loan Approved:

2021-02-25

Loan Status:

Ongoing Loan

Lender:

International Bank of Commerce

Coastal Plains Exploration LLC in Port Lavaca, TX received a Paycheck Protection Loan of $59,300 through International Bank of Commerce, which was approved in February, 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, Coastal Plains Exploration LLC's 2019 payroll expenses are estimated to be at least $284,640.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $94,880 per employee1

Reported PPP Proceed Usage:

On the PPP application, Coastal Plains Exploration LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $59,298
  • Utilities: $1

Business Information - Coastal Plains Exploration LLC in Port Lavaca, TX

Coastal Plains Exploration LLC
323 Alcoa Dr
Port Lavaca, TX 77979

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: Y

Rural / Urban: Rural

Calhoun County, TX — SBA Office 0681 — Congressional District: TX-27

Similar Companies near Port Lavaca

In the Port Lavaca area, 10 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $41,651 (compared to this company's $59,300).

Industry PPP Comparison Statistics

Nationwide, 20,810 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.86B 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, 300% higher than Coastal Plains Exploration LLC's reported 3 employees, and received an average PPP loan of $185,360, 213% higher than this company's loan of $59,300.

SBA PPP loan data, payroll data, and salaries for Coastal Plains Exploration, LLC
TX

Coastal Plains Exploration, LLC

Entity: Limited Liability Company (LLC)

Industry: Support Activities for Oil and Gas Operations

Location: Port Lavaca, TX

Search All PPP Data

Coastal Plains Exploration, LLC is a limited liability company (LLC) located in Port Lavaca, Texas that received a Coronavirus-related PPP loan from the SBA of $12,500.00 in April, 2020.

$ PPP Loan Information
Loan #3023417104

Loan Size:

$12,500

Jobs Retained:

1

Loan Approved:

2020-04-11

Loan Status:

Paid in Full or Forgiven

Lender:

International Bank of Commerce

Coastal Plains Exploration, LLC in Port Lavaca, TX received a Paycheck Protection Loan of $12,500 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 February, 2021.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Coastal Plains Exploration, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $9,377
  • Utilities: $349
  • Health Care: $2,774

Business Information - Coastal Plains Exploration, LLC in Port Lavaca, TX

Coastal Plains Exploration, LLC
Port Lavaca, TX
* Full address is redacted to protect the privacy of individuals.

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: Y

Rural / Urban: Rural

Calhoun County, TX — SBA Office 0681 — Congressional District: TX-27

Similar Companies near Port Lavaca

In the Port Lavaca area, 10 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $41,651 (compared to this company's $12,500).

Industry PPP Comparison Statistics

Nationwide, 20,810 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.86B 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, 1100% higher than Coastal Plains Exploration, LLC's reported 1 employees, and received an average PPP loan of $185,360, 1383% higher than this company's loan of $12,500.

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/coastal-plains-exploration-llc-port-lavaca-tx