PPP Loan Data — Peak Well Service LLC, Slc, UT
Peak Well Service LLC is a limited liability company (LLC) located at 201 S Main St Ste 2000 in Slc, Utah that received a Coronavirus-related PPP loan from the SBA of $1,626,214.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Zions Bank, A Division of
Peak Well Service LLC in Slc, UT received a Paycheck Protection Loan of $1.63M through Zions Bank, A Division of, 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 78. 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, Peak Well Service LLC's 2019 payroll expenses are estimated to be at least $7.81M (not accounting for salary amounts > $100k).
Because the 47 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, Peak Well Service LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,626,210
- Utilities: $1
Business Information - Peak Well Service LLC in Slc, UT
201 S Main St Ste 2000
Slc, UT 84111
Support Activities for Oil and Gas Operations
NAICS code 213112
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Slc
In the Slc area, 3 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 64 employees (compared to this company's 47) and received an average PPP loan of $1,118,569 (compared to this company's $1.63M).
Similar Nearby Businesses Who Received PPP Funding:
Peak Well Service LLC
Salt Lake City, UT
Integrated Water Management LLC
Salt Lake City, UT
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, 74% lower than Peak Well Service LLC's reported 47 employees, and received an average PPP loan of $185,360, 89% lower than this company's loan of $1.63M.
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Footnotes & Information
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