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PPP Loan Data — Forza Pipeline Services Inc., Midland, TX

SBA PPP loan data, payroll data, and salaries for Forza Pipeline Services Inc.
TX

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 Size:

$2.94M

Jobs Retained:

200

Loan Approved:

2020-04-15

Lender:

READYCAP LENDING, LLC

Forza Pipeline Services Inc. in Midland, TX received a Paycheck Protection Loan of $2.94M through READYCAP LENDING, LLC, which was approved in April, 2020.

Based on standard PPP eligibility rules, Forza Pipeline Services Inc.'s total 2019 payroll expenses were approximately $14.1M in order to qualify for the PPP loan amount received.

Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $70,517 per employee1.

Because the loan received by Forza Pipeline Services Inc. 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 - Forza Pipeline Services Inc. in Midland, TX

Forza Pipeline Services Inc.
2217 Ecr 155 Lot #3
Midland, TX 79706

Business Industry

Residential Remodelers (NAICS code 236118)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: TX-11

Similar Companies near Midland

In the Midland area, 14 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 200) and received an average PPP loan of $249,168 (compared to this company's $2.94M).

Industry PPP Comparison Statistics

Nationwide, 53,839 businesses in the "Residential Remodelers" industry received a total of $2,497,962,542.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 98% lower than Forza Pipeline Services Inc.'s reported 200 employees, and received an average PPP loan of $46,397, 98% 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, 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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/forza-pipeline-services-inc-midland-tx