PPP Loan Data — Power Rig, LLC, Woodward, OK
Power Rig, LLC is a limited liability company (LLC) located at 5060 Western Ave in Woodward, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $2,890,300.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 156 people during the applicable loan loan period.
$ PPP Loan Information
Power Rig, LLC received a Paycheck Protection Loan of $2.89M through BANK 7, which was approved in April, 2020.
Based on standard PPP eligibility rules, Power Rig, LLC's total 2019 payroll expenses were approximately $13.87M in order to qualify for the PPP loan amount received.
Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $88,932 per employee1.
Business Information - Power Rig, LLC in Woodward, OK
5060 Western Ave
Woodward, OK 73801
Drilling Oil and Gas Wells (NAICS code 213111)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: OK-03
Similar Companies near Woodward
In the Woodward area, 8 businesses in the "Drilling Oil and Gas Wells" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 156) and received an average PPP loan of $862,814 (compared to this company's $2.89M).
Similar Nearby Businesses Who Received PPP Funding:
Mid-Con Exploration, LLC
Hot Oil Units, Inc
Atlas Drilling, LLC
Wildcat Drilling Servises Inc
Hybrid Drilling Inc.
Industry PPP Comparison Statistics
Nationwide, 2,946 businesses in the "Drilling Oil and Gas Wells" industry received a total of $499,833,830.00 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, 93% lower than Power Rig, LLC's reported 156 employees, and received an average PPP loan of $169,665, 94% lower than this company's loan of $2.89M.
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Footnotes & Information
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