PPP Loan Data — Crosby Energy Services, Inc., Cut Off, LA
Crosby Energy Services, Inc. is a corporation located at 14090 Main St in Cut Off, Louisiana that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
$ PPP Loan Information
Lender:HANCOCK WHITNEY BANK
Crosby Energy Services, Inc. in Cut Off, LA received a Paycheck Protection Loan of $10M through HANCOCK WHITNEY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Crosby Energy Services, Inc.'s total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.
Business Information - Crosby Energy Services, Inc. in Cut Off, LA
14090 Main St
Cut Off, LA 70345
Crude Petroleum Extraction (NAICS code 211120)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: LA-01
Similar Companies near Cut Off
In the Cut Off area, 3 businesses in the "Crude Petroleum Extraction " industry received a PPP loan. These local businesses reported an average of 216 employees (compared to this company's 500) and received an average PPP loan of $4,273,000 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
Crosby Construction Services, Inc.
Cut Off, LA
C & D Wireline, LLC
Cut Off, LA
Industry PPP Comparison Statistics
Nationwide, 2,633 businesses in the "Crude Petroleum Extraction " industry received a total of $383,891,055.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 8 employees, 98% lower than Crosby Energy Services, Inc.'s reported 500 employees, and received an average PPP loan of $145,800, 99% lower than this company's loan of $10M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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