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PPP Loan Data — Gore Nitrogen Pumping Service LLC, Seiling, OK

ALERT: There are 2 PPP loans for a total of $4.92M in our database for businesses with the name "Gore Nitrogen Pumping Service LLC" in Seiling, OK. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Gore Nitrogen Pumping Service LLC
OK

Gore Nitrogen Pumping Service LLC

Entity: Limited Liability Company (LLC)

Industry: Drilling Oil and Gas Wells

Location: Seiling, OK

Search All PPP Data

Gore Nitrogen Pumping Service LLC is a limited liability company (LLC) located at 916 N. Elm St in Seiling, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.

The company has reported itself as a White male owned business, and employed at least 154 people during the applicable loan loan period.

$ PPP Loan Information
Loan #2012278607

Loan Size:

$2M

Jobs Retained:

154

Loan Approved:

2021-03-13

Loan Status:

Paid in Full or Forgiven

Lender:

Interstate Bank

Gore Nitrogen Pumping Service LLC in Seiling, OK received a Paycheck Protection Loan of $2M through Interstate Bank, which was approved in March, 2021.

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 October, 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 More
Understanding 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 More

Based 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, Gore Nitrogen Pumping Service LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 154 jobs retained, this equals an estimated average yearly compensation of $62,338 per employee1

Reported PPP Proceed Usage:

On the PPP application, Gore Nitrogen Pumping Service LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,000,000
Because the loan received by Gore Nitrogen Pumping Service LLC 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 - Gore Nitrogen Pumping Service LLC in Seiling, OK

Gore Nitrogen Pumping Service LLC
916 N. Elm St
Seiling, OK 73663

Business Industry:
Drilling Oil and Gas Wells
NAICS code 213111

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: N

Rural / Urban: Rural

Dewey County, OK — SBA Office 0680 — Congressional District: OK-03

Similar Companies near Seiling

In the Seiling area, 2 businesses in the "Drilling Oil and Gas Wells" industry received a PPP loan. These local businesses reported an average of 78 employees (compared to this company's 154) and received an average PPP loan of $1,007,907 (compared to this company's $2M).

Similar Nearby Businesses Who Received PPP Funding:

Gore Exploration LLC
Seiling, OK

$15,813 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 5,455 businesses in the "Drilling Oil and Gas Wells" industry received a total of $756.88M 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 9 employees, 94% lower than Gore Nitrogen Pumping Service LLC's reported 154 employees, and received an average PPP loan of $138,750, 93% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Gore Nitrogen Pumping Service, LLC
OK

Gore Nitrogen Pumping Service, LLC

Entity: Limited Liability Company (LLC)

Industry: Support Activities for Oil and Gas Operations

Location: Seiling, OK

Search All PPP Data

Gore Nitrogen Pumping Service, LLC is a limited liability company (LLC) located at 916 N Elm in Seiling, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $2,917,700.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 154 people during the applicable loan loan period.

$ PPP Loan Information
Loan #5820027009

Loan Size:

$2.92M

Jobs Retained:

154

Loan Approved:

2020-04-06

Loan Status:

Paid in Full or Forgiven

Lender:

Interstate Bank

Gore Nitrogen Pumping Service, LLC in Seiling, OK received a Paycheck Protection Loan of $2.92M through Interstate 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 June, 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 More
Understanding 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 More

Based 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, Gore Nitrogen Pumping Service, LLC's 2019 payroll expenses are estimated to be at least $14M.

Based on their reported 154 jobs retained, this equals an estimated average yearly compensation of $90,941 per employee1

Reported PPP Proceed Usage:

On the PPP application, Gore Nitrogen Pumping Service, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,917,700
Because the loan received by Gore Nitrogen Pumping Service, LLC 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 - Gore Nitrogen Pumping Service, LLC in Seiling, OK

Gore Nitrogen Pumping Service, LLC
916 N Elm
Seiling, OK 73663

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: Rural

Dewey County, OK — SBA Office 0680 — Congressional District: OK-03

Similar Companies near Seiling

In the Seiling area, 48 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 154) and received an average PPP loan of $80,508 (compared to this company's $2.92M).

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, 92% lower than Gore Nitrogen Pumping Service, LLC's reported 154 employees, and received an average PPP loan of $185,324, 94% lower than this company's loan of $2.92M.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/gore-nitrogen-pumping-service-llc-seiling-ok