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PPP Loan Data — Drilling Tools International Inc, Houston, TX

SBA PPP loan data, payroll data, and salaries for Drilling Tools International Inc
TX

Drilling Tools International Inc

Entity: Corporation

Industry: Crude Petroleum Extraction 

Location: Houston, TX

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Drilling Tools International Inc is a corporation located at 3701 Briarpark Dr in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $6,575,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.58M

Jobs Retained:

410

Loan Approved:

2020-04-08

Lender:

PNC BANK, NATIONAL ASSOCIATION

Drilling Tools International Inc in Houston, TX received a Paycheck Protection Loan of $6.58M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Drilling Tools International Inc's total 2019 payroll expenses were approximately $31.56M in order to qualify for the PPP loan amount received.

Based on their reported 410 jobs retained, this equals an estimated average yearly compensation of $76,979 per employee1.

Because the loan received by Drilling Tools International Inc 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 - Drilling Tools International Inc in Houston, TX

Drilling Tools International Inc
3701 Briarpark Dr
Houston, TX 77042

Business Industry

Crude Petroleum Extraction  (NAICS code 211120)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-09

Similar Companies near Houston

In the Houston area, 3 businesses in the "Crude Petroleum Extraction " industry received a PPP loan. These local businesses reported an average of 143 employees (compared to this company's 410) and received an average PPP loan of $2,276,435 (compared to this company's $6.58M).

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 Drilling Tools International Inc's reported 410 employees, and received an average PPP loan of $145,800, 98% lower than this company's loan of $6.58M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/drilling-tools-international-inc-houston-tx