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PPP Loan Data — Finley Resources Inc,
Fort Worth, TX
Finley Resources Inc
Entity: Subchapter S Corporation
Industry: Natural Gas Extraction
Location: Fort Worth, TX
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Finley Resources Inc is a subchapter s corporation located at 1308 Lake St Ste 200 in Fort Worth, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
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PPP Loan Information
Loan #1439238600
Loan Size:
Jobs Retained:
198Loan Approved:
2021-03-13Loan Status:
Ongoing LoanLender:
JPMorgan Chase Bank, National AssociationFinley Resources Inc in Fort Worth, TX received a Paycheck Protection Loan of $2M through JPMorgan Chase Bank, National Association, which was approved in March, 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, Finley Resources Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 198 jobs retained, this equals an estimated average yearly compensation of $48,485 per employee1
Reported PPP Proceed Usage:
On the PPP application, Finley Resources Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Finley Resources Inc in Fort Worth, TX
1308 Lake St Ste 200
Fort Worth, TX 76102
Business Industry:
Natural Gas Extraction
NAICS code 211130
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Fort Worth
In the Fort Worth area, 4 businesses in the "Natural Gas Extraction" industry received a PPP loan. These local businesses reported an average of 136 employees (compared to this company's 198) and received an average PPP loan of $1,732,928 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Finley Resources Inc
Fort Worth, TX
F.w. Rabalais, Inc
Fort Worth, TX
Morningstar Partners LP
Fort Worth, TX
Industry PPP Comparison Statistics
Nationwide, 1,204 businesses in the "Natural Gas Extraction" industry received a total of $183.62M 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 10 employees, 95% lower than Finley Resources Inc's reported 198 employees, and received an average PPP loan of $152,509, 92% lower than this company's loan of $2M.
Finley Resources Inc
Entity: Subchapter S Corporation
Industry: Natural Gas Extraction
Location: Fort Worth, TX
Tweet This
•
Search All PPP Data
Finley Resources Inc is a subchapter s corporation located at 1308 Lake Street Suite 200 in Fort Worth, Texas that received a Coronavirus-related PPP loan from the SBA of $2,895,712.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 178 people during the applicable loan loan period.
$
PPP Loan Information
Loan #2569297102
Loan Size:
Jobs Retained:
178Loan Approved:
2020-04-10Loan Status:
Ongoing LoanLender:
JPMorgan Chase Bank, National AssociationFinley Resources Inc in Fort Worth, TX received a Paycheck Protection Loan of $2.9M through JPMorgan Chase Bank, National Association, 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, Finley Resources Inc's 2019 payroll expenses are estimated to be at least $13.9M.
Based on their reported 178 jobs retained, this equals an estimated average yearly compensation of $78,087 per employee1
Reported PPP Proceed Usage:
On the PPP application, Finley Resources Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,561,838
- Health Care: $333,874
Business Information - Finley Resources Inc in Fort Worth, TX
1308 Lake Street Suite 200
Fort Worth, TX 76102
Business Industry:
Natural Gas Extraction
NAICS code 211130
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Fort Worth
In the Fort Worth area, 4 businesses in the "Natural Gas Extraction" industry received a PPP loan. These local businesses reported an average of 136 employees (compared to this company's 178) and received an average PPP loan of $1,732,928 (compared to this company's $2.9M).
Similar Nearby Businesses Who Received PPP Funding:
F.w. Rabalais, Inc
Fort Worth, TX
Finley Resources Inc
Fort Worth, TX
Morningstar Partners LP
Fort Worth, TX
Industry PPP Comparison Statistics
Nationwide, 1,204 businesses in the "Natural Gas Extraction" industry received a total of $183.62M 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 10 employees, 94% lower than Finley Resources Inc's reported 178 employees, and received an average PPP loan of $152,509, 95% lower than this company's loan of $2.9M.
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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