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PPP Loan Data — Island Operating Company, Inc.,
Houston, TX
Island Operating Company, Inc.
Entity: Subchapter S Corporation
Industry: Crude Petroleum Extraction
Location: Houston, TX
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Island Operating Company, Inc. is a subchapter s corporation located at 770 South Post Oak Lane #400 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 Size:
Jobs Retained:
500Loan Approved:
2020-04-13Lender:
ZIONS BANK, A DIVISION OFIsland Operating Company, Inc. received a Paycheck Protection Loan of $10M through ZIONS BANK, A DIVISION OF, which was approved in April, 2020.
Based on standard PPP eligibility rules, Island Operating Company, Inc.'s total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.
Business Information - Island Operating Company, Inc. in Houston, TX
770 South Post Oak Lane #400
Houston, TX 77056
Business Industry
Crude Petroleum Extraction (NAICS code 211120)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: TX-07Similar Companies near Houston
In the Houston area, 20 businesses in the "Crude Petroleum Extraction " industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 500) and received an average PPP loan of $852,472 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
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PO&G Operating, LLC
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Sozo Natural Resources LLC
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Peles LLC
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Golden Oil Company
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Navitas Petroleum Us LLC
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Manti Tarka Permian LP
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Compadre Resources, LLC
Houston, TX
Industry PPP Comparison Statistics
Nationwide, 2,633 businesses in the "Crude Petroleum Extraction " industry received a total of $383,891,055.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 8 employees, 98% lower than Island Operating Company, Inc.'s reported 500 employees, and received an average PPP loan of $145,800, 99% lower than this company's loan of $10M.
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.
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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