PPP Loan Data — Permian Plantworks Corporation, Midland, TX
Permian Plantworks Corporation is a corporation located at 4706 N Midkiff Rd Ste 22 in Midland, Texas that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Community National Bank
Permian Plantworks Corporation in Midland, TX received a Paycheck Protection Loan of $24,900 through Community National Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.
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, Permian Plantworks Corporation's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,760 per employee1
Reported PPP Proceed Usage:
On the PPP application, Permian Plantworks Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Permian Plantworks Corporation in Midland, TX
4706 N Midkiff Rd Ste 22
Midland, TX 79705
Support Activities for Oil and Gas Operations
NAICS code 213112
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Midland
In the Midland area, 410 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 2) and received an average PPP loan of $316,246 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
OIL Dog Pipe Rentals, LP
Leone Consulting Limited Liability Company
Blue Quail Energy Services LLC
Breaking Rock, LLC
J.e.c. Tubing Testers LLC
Robert Justin Stevens
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, 500% higher than Permian Plantworks Corporation's reported 2 employees, and received an average PPP loan of $185,360, 644% higher than this company's loan of $24,900.
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Footnotes & Information
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