PPP Loan Data — MDS Boring %26 Drilling Inc, Houston, TX
MDS Boring %26 Drilling Inc is a corporation located at 11900 Hirsch Rd 0.0 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $2,305,012.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
MDS Boring %26 Drilling Inc in Houston, TX received a Paycheck Protection Loan of $2.31M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
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, MDS Boring %26 Drilling Inc's 2019 payroll expenses are estimated to be at least $11.06M.
Based on their reported 147 jobs retained, this equals an estimated average yearly compensation of $75,266 per employee1
Reported PPP Proceed Usage:
On the PPP application, MDS Boring %26 Drilling Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,305,012
Business Information - MDS Boring %26 Drilling Inc in Houston, TX
11900 Hirsch Rd 0.0
Houston, TX 77050
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 2 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 136 employees (compared to this company's 147) and received an average PPP loan of $2,152,506 (compared to this company's $2.31M).
Similar Nearby Businesses Who Received PPP Funding:
MDS Boring & Drilling Inc
Industry PPP Comparison Statistics
Nationwide, 11,483 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.92B 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 26 employees, 82% lower than MDS Boring %26 Drilling Inc's reported 147 employees, and received an average PPP loan of $341,702, 85% lower than this company's loan of $2.31M.
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Footnotes & Information
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