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PPP Loan Data — Forza Pipeline Services Inc,
Midland, TX
Forza Pipeline Services Inc
Entity: Sole Proprietorship
Industry: Oil and Gas Pipeline and Related Structures Construction
Location: Midland, TX
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Forza Pipeline Services Inc is a sole proprietorship located at 2217 Ecr 155 Lot #4 in Midland, Texas that received a Coronavirus-related PPP loan from the SBA of $1,500,000.00 in May, 2021.
The company has reported itself as a male owned business, and employed at least 63 people during the applicable loan loan period.
$
PPP Loan Information
Loan #6543308905
Loan Size:
Jobs Retained:
63Loan Approved:
2021-05-02Loan Status:
Ongoing LoanLender:
Prosperity BankForza Pipeline Services Inc in Midland, TX received a Paycheck Protection Loan of $1.5M through Prosperity Bank, which was approved in May, 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.
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 63 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.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 72. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Forza Pipeline Services Inc's 2019 payroll expenses are estimated to be at least $7.2M (not accounting for salary amounts > $100k).
Because the 63 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Forza Pipeline Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,499,996
- Utilities: $1
Business Information - Forza Pipeline Services Inc in Midland, TX
2217 Ecr 155 Lot #4
Midland, TX 79706
Business Industry:
Oil and Gas Pipeline and Related Structures Construction
NAICS code 237120
Business Owner Demographics
Race: Unreported
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: N
Rural / Urban: Urban
Similar Companies near Midland
In the Midland area, 35 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 63) and received an average PPP loan of $695,819 (compared to this company's $1.5M).
Similar Nearby Businesses Who Received PPP Funding:
AZ Field Services LLC
Midland, TX
Tigco Equipment Services, Inc
Midland, TX
RHC Midcon, LP
Midland, TX
JHS Pipeline, LLC
Midland, TX
Onyx Contractors Operations, LP
Midland, TX
Broadhead Boring LLC
Midland, TX
PLC Group, LLC
Midland, TX
White Water Services, LLC
Midland, TX
Darwin Grant Smith
Midland, TX
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, 63% lower than Forza Pipeline Services Inc's reported 63 employees, and received an average PPP loan of $349,903, 77% lower than this company's loan of $1.5M.
Forza Pipeline Services Inc
Entity: Sole Proprietorship
Industry: Residential Remodelers
Location: Midland, TX
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Forza Pipeline Services Inc is a sole proprietorship located at 2217 Ecr 155 Lot #3 in Midland, Texas that received a Coronavirus-related PPP loan from the SBA of $2,938,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 200 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9871467108
Loan Size:
Jobs Retained:
200Loan Approved:
2020-04-15Loan Status:
Paid in Full or ForgivenLender:
Customers BankForza Pipeline Services Inc in Midland, TX received a Paycheck Protection Loan of $2.94M through Customers Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.
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, Forza Pipeline Services Inc's 2019 payroll expenses are estimated to be at least $14.1M.
Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $70,517 per employee1
Reported PPP Proceed Usage:
On the PPP application, Forza Pipeline Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,938,200
Business Information - Forza Pipeline Services Inc in Midland, TX
2217 Ecr 155 Lot #3
Midland, TX 79706
Business Industry:
Residential Remodelers
NAICS code 236118
Business Owner Demographics
Race: Unreported
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: N
Rural / Urban: Urban
Similar Companies near Midland
In the Midland area, 36 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 200) and received an average PPP loan of $105,380 (compared to this company's $2.94M).
Similar Nearby Businesses Who Received PPP Funding:
Ranmar Services Inc
Midland, TX
Jacob Gorham
Midland, TX
Marquis Green
Midland, TX
Rogelio Contreras Lopez
Midland, TX
Mark Velasquez
Midland, TX
Steven Dickson
Midland, TX
Mark Burkett DBA Mab Contracting
Midland, TX
Willie Services And Flooring
Midland, TX
Gilberto Saenz Sr
Midland, TX
Industry PPP Comparison Statistics
Nationwide, 166,608 businesses in the "Residential Remodelers" industry received a total of $5.16B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 99% lower than Forza Pipeline Services Inc's reported 200 employees, and received an average PPP loan of $30,994, 99% lower than this company's loan of $2.94M.
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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