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

PPP Loan Data — E & M Services, LLC, Watford City, ND

SBA PPP loan data, payroll data, and salaries for E & M Services, LLC
ND

E & M Services, LLC

Entity: Limited Liability Company (LLC)

Industry: Support Activities for Oil and Gas Operations

Location: Watford City, ND

Search All PPP Data

E & M Services, LLC is a limited liability company (LLC) located at 305 12th St in Watford City, North Dakota that received a Coronavirus-related PPP loan from the SBA of $2,440,500.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 92 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.44M
Likely Employment Reduction3

Jobs Retained:

92

Loan Approved:

2020-04-04

Lender:

FIRST INTERNATIONAL BANK & TRUST

E & M Services, LLC in Watford City, ND received a Paycheck Protection Loan of $2.44M through FIRST INTERNATIONAL BANK & TRUST, which was approved in April, 2020.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 92 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

2019 Payroll Estimations based On PPP Amount:

Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 117.

Based on standard PPP eligibility rules, E & M Services, LLC's total 2019 payroll expenses were approximately $11.71M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.

Because the 92 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Because the loan received by E & M 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 - E & M Services, LLC in Watford City, ND

E & M Services, LLC
305 12th St
Watford City, ND 58854

Business Industry

Support Activities for Oil and Gas Operations (NAICS code 213112)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: ND-

Similar Companies near Watford City

In the Watford City area, 47 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 92) and received an average PPP loan of $244,270 (compared to this company's $2.44M).

Industry PPP Comparison Statistics

Nationwide, 11,335 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $2,439,543,076.00 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 13 employees, 86% lower than E & M Services, LLC's reported 92 employees, and received an average PPP loan of $215,222, 91% lower than this company's loan of $2.44M.

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.

Search FederalPay's Full PPP Loan Database

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.

3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/e-and-m-services-llc-watford-city-nd