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PPP Loan Data — Justiss Oil Company Inc,
Jena, LA
Justiss Oil Company Inc
Entity: Corporation
Industry: Natural Gas Extraction
Location: Jena, LA
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Justiss Oil Company Inc is a corporation located at 1120 E Oak St in Jena, Louisiana that received a Coronavirus-related PPP loan from the SBA of $1,927,770.00 in January, 2021.
$ PPP Loan Information Loan #8708608300
Loan Size:
Jobs Retained:
96Loan Approved:
2021-01-29Loan Status:
Active Un-DisbursedLender:
CLB The Community BankJustiss Oil Company Inc in Jena, LA received a Paycheck Protection Loan of $1.93M through CLB The Community Bank, which was approved in January, 2021.
While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $1.93M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in January, 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 MoreUnderstanding 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 MoreBased 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, Justiss Oil Company Inc's 2019 payroll expenses are estimated to be at least $9.25M.
Based on their reported 96 jobs retained, this equals an estimated average yearly compensation of $96,389 per employee1
Reported PPP Proceed Usage:
On the PPP application, Justiss Oil Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,927,768
- Utilities: $1
Business Information - Justiss Oil Company Inc in Jena, LA
1120 E Oak St
Jena, LA 71342
Business Industry:
Natural Gas Extraction
NAICS code 211130
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Rural
Similar Companies near Jena
In the Jena area, 2 businesses in the "Natural Gas Extraction" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 96) and received an average PPP loan of $968,534 (compared to this company's $1.93M).
Similar Nearby Businesses Who Received PPP Funding:
David Adam Knight DBA David Adam Knight
Jena, LA
Industry PPP Comparison Statistics
Nationwide, 1,198 businesses in the "Natural Gas Extraction" industry received a total of $183,509,709.00 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 10 employees, 90% lower than Justiss Oil Company Inc's reported 96 employees, and received an average PPP loan of $153,180, 92% lower than this company's loan of $1.93M.
Justiss Oil Company, Inc
Entity: Corporation
Industry: Drilling Oil and Gas Wells
Location: Jena, LA
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Justiss Oil Company, Inc is a corporation located at 1120 East Oak St in Jena, Louisiana that received a Coronavirus-related PPP loan from the SBA of $2,004,700.00 in April, 2020.
$ PPP Loan Information Loan #5829287002
Loan Size:
Jobs Retained:
133Loan Approved:
2020-04-06Loan Status:
Ongoing LoanLender:
CLB The Community BankJustiss Oil Company, Inc in Jena, LA received a Paycheck Protection Loan of $2M through CLB The Community Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 MoreUnderstanding 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 MoreBased 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, Justiss Oil Company, Inc's 2019 payroll expenses are estimated to be at least $9.62M.
Based on their reported 133 jobs retained, this equals an estimated average yearly compensation of $72,350 per employee1
Reported PPP Proceed Usage:
On the PPP application, Justiss Oil Company, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,603,760
- Utilities: $200,470
- Mortgage Interest: $200,470
Business Information - Justiss Oil Company, Inc in Jena, LA
1120 East Oak St
Jena, LA 71342
Business Industry:
Drilling Oil and Gas Wells
NAICS code 213111
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Rural
Similar Companies near Jena
In the Jena area, 21 businesses in the "Drilling Oil and Gas Wells" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 133) and received an average PPP loan of $117,233 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Jesse Poole's Consulting, LLC
Jonesville, LA
NV Francis Consulting, LLC
Jena, LA
FX4 Consulting, LLC
Jena, LA
Boyette Consulting LLC
Jonesville, LA
Jeffery Keith Inc
Jonesville, LA
JRU Consulting LLC
Jena, LA
NV Francis Consulting LLC
Jena, LA
Jmil, Inc
Hessmer, LA
FX4 Consulting LLC
Jena, LA
Industry PPP Comparison Statistics
Nationwide, 4,866 businesses in the "Drilling Oil and Gas Wells" industry received a total of $731,139,172.00 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 10 employees, 92% lower than Justiss Oil Company, Inc's reported 133 employees, and received an average PPP loan of $150,255, 93% lower than this company's loan of $2M.
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.
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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