PPP Loan Data — Gyrodata Incorporated, Houston, TX

Gyrodata Incorporated is a corporation located at 23000 Northwest Lake Dr in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

$ PPP Loan Information

Loan #6900827007

Gyrodata Incorporated in Houston, TX received a Paycheck Protection Loan of $10M through BOKF, National Association, 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 September, 2021.

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 249 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 480. 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

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, Gyrodata Incorporated's 2019 payroll expenses are estimated to be at least $48M (not accounting for salary amounts > $100k).

Because the 249 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, Gyrodata Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $10,000,000

Business Information - Gyrodata Incorporated in Houston, TX

Similar Companies near Houston

In the Houston area, 26 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 249) and received an average PPP loan of $600,880 (compared to this company's $10M).

Industry PPP Comparison Statistics

Nationwide, 20,742 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.84B 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, 95% lower than Gyrodata Incorporated's reported 249 employees, and received an average PPP loan of $185,218, 98% lower than this company's loan of $10M.