PPP Loan Data — Ferguson Construction Company, Lovington, NM
Ferguson Construction Company is a corporation located at 2200 S. Commercial St in Lovington, New Mexico that received a Coronavirus-related PPP loan from the SBA of $4,165,900.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 233 people during the applicable loan loan period.
$ PPP Loan Information
Lender:WESTERN COMMERCE BANK
Ferguson Construction Company received a Paycheck Protection Loan of $4.17M through WESTERN COMMERCE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Ferguson Construction Company's total 2019 payroll expenses were approximately $20M in order to qualify for the PPP loan amount received.
Based on their reported 233 jobs retained, this equals an estimated average yearly compensation of $85,821 per employee1.
Business Information - Ferguson Construction Company in Lovington, NM
2200 S. Commercial St
Lovington, NM 88260
Support Activities for Oil and Gas Operations (NAICS code 213112)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: NM-02
Similar Companies near Lovington
In the Lovington area, 59 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 233) and received an average PPP loan of $208,432 (compared to this company's $4.17M).
Similar Nearby Businesses Who Received PPP Funding:
Battle Energy Services, LLC
Auxiliary Energy Services, LLC
Art's Hot Oil Services, LLC
Bcnc Oilfield Services LLC
Genesis 1:1 Oilfield Services, Inc.
Shalom Trucking LLC
Empire Services, LLC
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, 94% lower than Ferguson Construction Company's reported 233 employees, and received an average PPP loan of $215,222, 95% lower than this company's loan of $4.17M.
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.
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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