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PPP Loan Data — Quality Energy Services Inc., Houma, LA

SBA PPP loan data, payroll data, and salaries for Quality Energy Services Inc.
LA

Quality Energy Services Inc.

Entity: Corporation

Industry: Support Activities for Oil and Gas Operations

Location: Houma, LA

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Quality Energy Services Inc. is a corporation located at 5342 Highway 311 in Houma, Louisiana that received a Coronavirus-related PPP loan from the SBA of $4,448,500.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 197 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.45M
Likely Employment Reduction3

Jobs Retained:

197

Loan Approved:

2020-04-05

Lender:

B1BANK

Quality Energy Services Inc. in Houma, LA received a Paycheck Protection Loan of $4.45M through B1BANK, which was approved in April, 2020.

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 197 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.

2019 Payroll Estimations based On PPP Amount:

Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 214.

Based on standard PPP eligibility rules, Quality Energy Services Inc.'s total 2019 payroll expenses were approximately $21.35M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.

Because the 197 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Because the loan received by Quality Energy Services Inc. 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 - Quality Energy Services Inc. in Houma, LA

Quality Energy Services Inc.
5342 Highway 311
Houma, LA 70360

Business Industry

Support Activities for Oil and Gas Operations (NAICS code 213112)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: LA-01

Similar Companies near Houma

In the Houma area, 43 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 197) and received an average PPP loan of $426,273 (compared to this company's $4.45M).

Industry PPP Comparison Statistics

Nationwide, 11,335 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $2,439,543,076.00 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 13 employees, 93% lower than Quality Energy Services Inc.'s reported 197 employees, and received an average PPP loan of $215,222, 95% lower than this company's loan of $4.45M.

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, 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.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/quality-energy-services-inc-houma-la