PPP Loan Data — Gulf Coast Petroleum Services, Brownsville, TX
Gulf Coast Petroleum Services is a partnership located at 15801 Rl Ostos Road in Brownsville, Texas that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:International Bank of Commerce
Gulf Coast Petroleum Services in Brownsville, TX received a Paycheck Protection Loan of $47,000 through International Bank of Commerce, 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 February, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Gulf Coast Petroleum Services' 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $28,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gulf Coast Petroleum Services reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,000
Business Information - Gulf Coast Petroleum Services in Brownsville, TX
15801 Rl Ostos Road
Brownsville, TX 78521
Petroleum Bulk Stations and Terminals
NAICS code 424710
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,098 businesses in the "Petroleum Bulk Stations and Terminals" industry received a total of $250.74M 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 22 employees, 175% higher than Gulf Coast Petroleum Services' reported 8 employees, and received an average PPP loan of $228,361, 386% higher than this company's loan of $47,000.
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Footnotes & Information
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