PPP Loan Data — Maverick Wireline Inc, Daisetta, TX
Maverick Wireline Inc is a corporation located at 3957 Fm 770 in Daisetta, Texas that received a Coronavirus-related PPP loan from the SBA of $45,760.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Anahuac National Bank
Maverick Wireline Inc in Daisetta, TX received a Paycheck Protection Loan of $45,760 through Anahuac National Bank, which was approved in January, 2021.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 2. 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
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, Maverick Wireline Inc's 2019 payroll expenses are estimated to be at least $219,648 (not accounting for salary amounts > $100k).
Because the 2 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, Maverick Wireline Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,759
Business Information - Maverick Wireline Inc in Daisetta, TX
3957 Fm 770
Daisetta, TX 77533
Crude Petroleum Extraction
NAICS code 211120
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Daisetta
In the Daisetta area, 2 businesses in the "Crude Petroleum Extraction " industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $28,482 (compared to this company's $45,760).
Similar Nearby Businesses Who Received PPP Funding:
Filipp Oilfield Service, LLC
Industry PPP Comparison Statistics
Nationwide, 5,870 businesses in the "Crude Petroleum Extraction " industry received a total of $637.96M 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 7 employees, 250% higher than Maverick Wireline Inc's reported 2 employees, and received an average PPP loan of $108,682, 138% higher than this company's loan of $45,760.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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