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PPP Loan Data — Petroleum Geo-Services Inc., Houston, TX

SBA PPP loan data, payroll data, and salaries for Petroleum Geo-Services Inc.
TX

Petroleum Geo-Services Inc.

Entity: Corporation

Industry: Geophysical Surveying and Mapping Services

Location: Houston, TX

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Petroleum Geo-Services Inc. is a corporation located at 15375 Memorial Dr in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $5,953,458.00 in May, 2020.

The company has reported itself as a male owned business.

$ PPP Loan Information

Loan Size:

$5.95M

Jobs Retained:

0 Unreported

Loan Approved:

2020-05-28

Lender:

SPIRIT OF TEXAS BANK, SSB

Petroleum Geo-Services Inc. in Houston, TX received a Paycheck Protection Loan of $5.95M through SPIRIT OF TEXAS BANK, SSB, which was approved in May, 2020.

Based on standard PPP eligibility rules, Petroleum Geo-Services Inc.'s total 2019 payroll expenses were approximately $28.58M in order to qualify for the PPP loan amount received.

Unlike most businesses, Petroleum Geo-Services Inc.'s PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Petroleum Geo-Services Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Petroleum Geo-Services Inc. in Houston, TX

Petroleum Geo-Services Inc.
15375 Memorial Dr
Houston, TX 77079

Business Industry

Geophysical Surveying and Mapping Services (NAICS code 541360)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: TX-07

Similar Companies near Houston

In the Houston area, 3 businesses in the "Geophysical Surveying and Mapping Services" industry received a PPP loan. These local businesses reported an average of 132 employees (compared to this company's 0) and received an average PPP loan of $4,326,701 (compared to this company's $5.95M).

Industry PPP Comparison Statistics

Nationwide, 797 businesses in the "Geophysical Surveying and Mapping Services" industry received a total of $145,490,014.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, and received an average PPP loan of $182,547, 97% lower than this company's loan of $5.95M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/petroleum-geo-services-inc-houston-tx