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PPP Loan Data — Lone Paloma Resources LLC, Midland, TX

ALERT: There are 2 PPP loans for a total of $36,122 in our database for businesses with the name "Lone Paloma Resources LLC" in Midland, TX. 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 Lone Paloma Resources LLC
TX

Lone Paloma Resources LLC

Entity: Limited Liability Company (LLC)

Industry: Drilling Oil and Gas Wells

Location: Midland, TX

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Lone Paloma Resources LLC is a limited liability company (LLC) located in Midland, Texas that received a Coronavirus-related PPP loan from the SBA of $15,322.00 in March, 2021.

$ PPP Loan Information
Loan #6898038601

Loan Size:

$15,322

Jobs Retained:

1

Loan Approved:

2021-03-23

Loan Status:

Active Un-Disbursed

Lender:

Itria Ventures LLC
PPP Funds Undisbursed

Lone Paloma Resources LLC in Midland, TX received a Paycheck Protection Loan of $15,322 through Itria Ventures LLC, which was approved in March, 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 $15,322 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 2021.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Lone Paloma Resources LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $15,322

Business Information - Lone Paloma Resources LLC in Midland, TX

Lone Paloma Resources LLC
Midland, TX
* Full address is redacted to protect the privacy of individuals.

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: Urban

Midland County, TX — SBA Office 0678 — Congressional District: TX-11

Similar Companies near Midland

In the Midland area, 23 businesses in the "Drilling Oil and Gas Wells" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 1) and received an average PPP loan of $180,969 (compared to this company's $15,322).

Industry PPP Comparison Statistics

Nationwide, 4,893 businesses in the "Drilling Oil and Gas Wells" industry received a total of $731.94M 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 10 employees, 900% higher than Lone Paloma Resources LLC's reported 1 employees, and received an average PPP loan of $149,590, 876% higher than this company's loan of $15,322.

SBA PPP loan data, payroll data, and salaries for Lone Paloma Resources, LLC
TX

Lone Paloma Resources, LLC

Entity: Limited Liability Company (LLC)

Industry: Support Activities for Oil and Gas Operations

Location: Midland, TX

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Lone Paloma Resources, LLC is a limited liability company (LLC) located in Midland, Texas that received a Coronavirus-related PPP loan from the SBA of $20,800.00 in June, 2020.

$ PPP Loan Information
Loan #5367147904

Loan Size:

$20,800

Jobs Retained:

1

Loan Approved:

2020-06-15

Loan Status:

Ongoing Loan

Lender:

Frost Bank

Lone Paloma Resources, LLC in Midland, TX received a Paycheck Protection Loan of $20,800 through Frost Bank, which was approved in June, 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.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Lone Paloma Resources, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $20,800

Business Information - Lone Paloma Resources, LLC in Midland, TX

Lone Paloma Resources, LLC
Midland, TX
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Support Activities for Oil and Gas Operations
NAICS code 213112

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: N

HUBZone: N

Rural / Urban: Urban

Midland County, TX — SBA Office 0678 — Congressional District: TX-11

Similar Companies near Midland

In the Midland area, 383 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 1) and received an average PPP loan of $331,117 (compared to this company's $20,800).

Industry PPP Comparison Statistics

Nationwide, 19,181 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.77B 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 13 employees, 1200% higher than Lone Paloma Resources, LLC's reported 1 employees, and received an average PPP loan of $196,293, 844% higher than this company's loan of $20,800.

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/lone-paloma-resources-llc-midland-tx