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PPP Loan Data — Ferguson Construction Company,
Lovington, NM
Ferguson Construction Company
Entity: Corporation
Industry: Oil and Gas Pipeline and Related Structures Construction
Location: Lovington, NM
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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 $2,000,000.00 in February, 2021.
The company has reported itself as a White female owned business, and employed at least 149 people during the applicable loan loan period.
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PPP Loan Information
Loan #3031218502
Loan Size:
Jobs Retained:
149Loan Approved:
2021-02-22Loan Status:
Ongoing LoanLender:
Western Commerce BankFerguson Construction Company in Lovington, NM received a Paycheck Protection Loan of $2M through Western Commerce Bank, 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 MoreUnderstanding 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 MoreBased 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, Ferguson Construction Company's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 149 jobs retained, this equals an estimated average yearly compensation of $64,430 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ferguson Construction Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Ferguson Construction Company in Lovington, NM
2200 S Commercial St
Lovington, NM 88260
Business Industry:
Oil and Gas Pipeline and Related Structures Construction
NAICS code 237120
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Lovington
In the Lovington area, 4 businesses in the "Oil and Gas Pipeline and Related Structures Construction" industry received a PPP loan. These local businesses reported an average of 43 employees (compared to this company's 149) and received an average PPP loan of $568,741 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Rafael Serrano Jr
Lovington, NM
D & T Backhoe Inc
Lovington, NM
Triple H Engine & Pump Service Inc
Lovington, NM
Industry PPP Comparison Statistics
Nationwide, 3,016 businesses in the "Oil and Gas Pipeline and Related Structures Construction" industry received a total of $1.06B 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 23 employees, 85% lower than Ferguson Construction Company's reported 149 employees, and received an average PPP loan of $349,903, 83% lower than this company's loan of $2M.
Ferguson Construction Company
Entity: Corporation
Industry: Support Activities for Oil and Gas Operations
Location: Lovington, NM
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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
Loan #4471907009
Loan Size:
Jobs Retained:
233Loan Approved:
2020-04-03Loan Status:
Ongoing LoanLender:
Western Commerce BankFerguson Construction Company in Lovington, NM received a Paycheck Protection Loan of $4.17M through Western Commerce Bank, which was approved in April, 2020.
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 MoreUnderstanding 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 MoreBased 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, Ferguson Construction Company's 2019 payroll expenses are estimated to be at least $20M.
Based on their reported 233 jobs retained, this equals an estimated average yearly compensation of $85,821 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ferguson Construction Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,845,900
- Utilities: $20,000
- Rent: $50,000
- Health Care: $50,000
- Debt Interest: $200,000
Business Information - Ferguson Construction Company in Lovington, NM
2200 S. Commercial St
Lovington, NM 88260
Business Industry:
Support Activities for Oil and Gas Operations
NAICS code 213112
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Lovington
In the Lovington area, 103 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 233) and received an average PPP loan of $184,560 (compared to this company's $4.17M).
Similar Nearby Businesses Who Received PPP Funding:
R & J Roustabout Services Inc
Lovington, NM
Chad Jeter
Lovington, NM
Zepeda Trucking LLC
Lovington, NM
Big Time Roustabout Service LLC
Lovington, NM
Burns Xpress LLC
Lovington, NM
Pro-Kem, Inc
Lovington, NM
Duke Oilfield Services LLC
Lovington, NM
Art's Hot Oil Services, LLC
Lovington, NM
Dynamic Safety Solutions
Lovington, NM
Industry PPP Comparison Statistics
Nationwide, 20,749 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.85B 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, 95% lower than Ferguson Construction Company's reported 233 employees, and received an average PPP loan of $185,324, 96% 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. 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.
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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