PPP Loan Data — Pinnacle Oil Holdings, LLC, Indianapolis, IN
Pinnacle Oil Holdings, LLC
Entity: Limited Liability Company (LLC)
Industry: Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)
Location: Indianapolis, INTweet This • Search All PPP Data
Pinnacle Oil Holdings, LLC is a limited liability company (LLC) located at 5009 W 81st St in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,477,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 172 people during the applicable loan loan period.
$ PPP Loan Information
Lender:LAKE CITY BANK
Pinnacle Oil Holdings, LLC received a Paycheck Protection Loan of $2.48M through LAKE CITY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Pinnacle Oil Holdings, LLC's total 2019 payroll expenses were approximately $11.89M in order to qualify for the PPP loan amount received.
Based on their reported 172 jobs retained, this equals an estimated average yearly compensation of $69,134 per employee1.
Business Information - Pinnacle Oil Holdings, LLC in Indianapolis, IN
5009 W 81st St
Indianapolis, IN 46268
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: IN-05
Industry PPP Comparison Statistics
Nationwide, 2,382 businesses in the "Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)" industry received a total of $553,390,948.00 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 18 employees, 90% lower than Pinnacle Oil Holdings, LLC's reported 172 employees, and received an average PPP loan of $232,322, 91% lower than this company's loan of $2.48M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.
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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