PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Prime Energy Services LLC, Houston, TX

ALERT: There are 2 PPP loans for a total of $3.94M in our database for businesses with the name "Prime Energy Services LLC" in Houston, TX. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Prime Energy Services LLC
TX

Prime Energy Services LLC

Entity: Limited Liability Company (LLC)

Industry: Surveying and Mapping (except Geophysical) Services

Location: Houston, TX

Search All PPP Data

Prime Energy Services LLC is a limited liability company (LLC) located at 654 N Sam Houston Pkwy E Ste 300 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $1,749,071.00 in March, 2021.

$ PPP Loan Information
Loan #1463218605

Loan Size:

$1.75M

Jobs Retained:

93

Loan Approved:

2021-03-13

Loan Status:

Ongoing Loan

Lender:

BBVA USA

Prime Energy Services LLC in Houston, TX received a Paycheck Protection Loan of $1.75M through BBVA USA, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Prime Energy Services LLC's 2019 payroll expenses are estimated to be at least $8.4M.

Based on their reported 93 jobs retained, this equals an estimated average yearly compensation of $90,275 per employee1

Reported PPP Proceed Usage:

On the PPP application, Prime Energy Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,749,067
  • Utilities: $1

Business Information - Prime Energy Services LLC in Houston, TX

Prime Energy Services LLC
654 N Sam Houston Pkwy E Ste 300
Houston, TX 77060

Business Industry:
Surveying and Mapping (except Geophysical) Services
NAICS code 541370

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Harris County, TX — SBA Office 0671 — Congressional District: TX-29

Industry PPP Comparison Statistics

Nationwide, 5,535 businesses in the "Surveying and Mapping (except Geophysical) Services" industry received a total of $521.74M 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 8 employees, 91% lower than Prime Energy Services LLC's reported 93 employees, and received an average PPP loan of $94,261, 95% lower than this company's loan of $1.75M.

SBA PPP loan data, payroll data, and salaries for Prime Energy Services, LLC
TX

Prime Energy Services, LLC

Entity: Limited Liability Company (LLC)

Industry: Geophysical Surveying and Mapping Services

Location: Houston, TX

Search All PPP Data

Prime Energy Services, LLC is a limited liability company (LLC) located at 654 N Sam Houston Pkwy E Suite 300 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $2,187,500.00 in April, 2020.

$ PPP Loan Information
Loan #6565657104

Loan Size:

$2.19M

Jobs Retained:

158

Loan Approved:

2020-04-14

Loan Status:

Ongoing Loan

Lender:

BBVA USA

Prime Energy Services, LLC in Houston, TX received a Paycheck Protection Loan of $2.19M through BBVA USA, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Prime Energy Services, LLC's 2019 payroll expenses are estimated to be at least $10.5M.

Based on their reported 158 jobs retained, this equals an estimated average yearly compensation of $66,456 per employee1

Reported PPP Proceed Usage:

On the PPP application, Prime Energy Services, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,640,625
  • Rent: $546,875
Because the loan received by Prime Energy Services, 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 - Prime Energy Services, LLC in Houston, TX

Prime Energy Services, LLC
654 N Sam Houston Pkwy E Suite 300
Houston, TX 77060

Business Industry:
Geophysical Surveying and Mapping Services
NAICS code 541360

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Harris County, TX — SBA Office 0671 — Congressional District: TX-18

Similar Companies near Houston

In the Houston area, 2 businesses in the "Geophysical Surveying and Mapping Services" industry received a PPP loan. These local businesses reported an average of 89 employees (compared to this company's 158) and received an average PPP loan of $1,284,600 (compared to this company's $2.19M).

Similar Nearby Businesses Who Received PPP Funding:

Bell Geospace, Inc
Houston, TX

$381,700 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 1,366 businesses in the "Geophysical Surveying and Mapping Services" industry received a total of $192.2M 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 10 employees, 94% lower than Prime Energy Services, LLC's reported 158 employees, and received an average PPP loan of $140,702, 94% lower than this company's loan of $2.19M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/prime-energy-services-llc-houston-tx