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PPP Loan Data — PV Fluid Products Inc,
Houston, TX
PV Fluid Products Inc
Entity: Corporation
Industry: Oil and Gas Field Machinery and Equipment Manufacturing
Location: Houston, TX
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PV Fluid Products Inc is a corporation located at 5150 Blalock Rd in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #2611648700
Loan Size:
Jobs Retained:
88Loan Approved:
2021-03-30Loan Status:
Paid in Full or ForgivenLender:
HSBC Bank USA, National AssociationPV Fluid Products Inc in Houston, TX received a Paycheck Protection Loan of $2M through HSBC Bank USA, National Association, which was approved in March, 2021.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 2022.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 88 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 96. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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 MoreUnderstanding 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 MoreBased 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, PV Fluid Products Inc's 2019 payroll expenses are estimated to be at least $9.6M (not accounting for salary amounts > $100k).
Because the 88 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, PV Fluid Products Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - PV Fluid Products Inc in Houston, TX
5150 Blalock Rd
Houston, TX 77041
Business Industry:
Oil and Gas Field Machinery and Equipment Manufacturing
NAICS code 333132
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: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 62 businesses in the "Oil and Gas Field Machinery and Equipment Manufacturing" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 88) and received an average PPP loan of $479,613 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
OIL & Gas Measurement Equipment Inc
Houston, TX
Tiger Industries Inc
Houston, TX
ATT Technologyltd
Houston, TX
Datacan USA
Houston, TX
O'drill/Mcm
Houston, TX
V Gas LLC
Houston, TX
GPM International, Inc
Houston, TX
Subsea Concepts LLC
Houston, TX
Agar Corporation Inc
Houston, TX
Industry PPP Comparison Statistics
Nationwide, 1,610 businesses in the "Oil and Gas Field Machinery and Equipment Manufacturing" industry received a total of $549.59M 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 23 employees, 74% lower than PV Fluid Products Inc's reported 88 employees, and received an average PPP loan of $341,362, 83% lower than this company's loan of $2M.
PV Fluid Products Inc
Entity: Corporation
Industry: Support Activities for Oil and Gas Operations
Location: Houston, TX
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PV Fluid Products Inc is a corporation located at 5150 Blalock Rd in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $4,107,500.00 in April, 2020.
$
PPP Loan Information
Loan #9935447102
Loan Size:
Jobs Retained:
189Loan Approved:
2020-04-15Loan Status:
Paid in Full or ForgivenLender:
HSBC Bank USA, National AssociationPV Fluid Products Inc in Houston, TX received a Paycheck Protection Loan of $4.11M through HSBC Bank USA, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 189 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 197. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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 MoreUnderstanding 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 MoreBased 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, PV Fluid Products Inc's 2019 payroll expenses are estimated to be at least $19.72M (not accounting for salary amounts > $100k).
Because the 189 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, PV Fluid Products Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,107,500
Business Information - PV Fluid Products Inc in Houston, TX
5150 Blalock Rd
Houston, TX 77041
Business Industry:
Support Activities for Oil and Gas Operations
NAICS code 213112
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
Similar Companies near Houston
In the Houston area, 70 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 189) and received an average PPP loan of $575,546 (compared to this company's $4.11M).
Similar Nearby Businesses Who Received PPP Funding:
Surgitech, Inc
Houston, TX
Kinetic Pressure Control Limited
Houston, TX
LFF Houston Inc
Houston, TX
Setein Enterprises LLC
Houston, TX
Michael J Mcghan
Houston, TX
VFL Energy Technologies Inc
Houston, TX
Isodrill Inc
Houston, TX
Major Midstream Operating Partners LLC
Houston, TX
Geolog Americas, Inc
Houston, TX
Industry PPP Comparison Statistics
Nationwide, 20,742 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.84B 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 12 employees, 94% lower than PV Fluid Products Inc's reported 189 employees, and received an average PPP loan of $185,218, 95% lower than this company's loan of $4.11M.
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.
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.
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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