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PPP Loan Data — Pinnacle Oil Holdings, LLC, Indianapolis, IN

SBA PPP loan data, payroll data, and salaries for Pinnacle Oil Holdings, LLC
IN

Pinnacle Oil Holdings, LLC

Entity: Limited Liability Company (LLC)

Industry: Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)

Location: Indianapolis, IN

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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

Loan Size:

$2.48M

Jobs Retained:

172

Loan Approved:

2020-04-06

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.

Because the loan received by Pinnacle Oil Holdings, LLC 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 - Pinnacle Oil Holdings, LLC in Indianapolis, IN

Pinnacle Oil Holdings, LLC
5009 W 81st St
Indianapolis, IN 46268

Business Industry

Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals) (NAICS code 424720)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional 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.

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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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Source: www.federalpay.org/paycheck-protection-program/pinnacle-oil-holdings-llc-indianapolis-in