PPP Loan Data — Nocona Well Services LLC, Nocona, TX
Nocona Well Services LLC is a limited liability company (LLC) located at Po Box 538 in Nocona, Texas that received a Coronavirus-related PPP loan from the SBA of $46,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Legend Bank, National Association
Nocona Well Services LLC in Nocona, TX received a Paycheck Protection Loan of $46,000 through Legend 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, Nocona Well Services LLC's 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,160 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nocona Well Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,000
Business Information - Nocona Well Services LLC in Nocona, TX
Po Box 538
Nocona, TX 76255
Support Activities for Oil and Gas Operations
NAICS code 213112
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Nocona
In the Nocona area, 10 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 5) and received an average PPP loan of $68,141 (compared to this company's $46,000).
Similar Nearby Businesses Who Received PPP Funding:
Longbranch Operating Inc
Quality Transfer Services LLC
Breeze Oilfield Service LLC
LW Contract Pumping, LLC
James Wesley Crow
Texgas Energy Inc
Gary C Robertson
Nocona Supply Company Inc
Parsons Transports, LLC
Industry PPP Comparison Statistics
Nationwide, 20,810 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.86B 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 12 employees, 140% higher than Nocona Well Services LLC's reported 5 employees, and received an average PPP loan of $185,360, 303% higher than this company's loan of $46,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!