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PPP Loan Data — Robinson Drilling Of Texas LTD, Big Spring, TX

ALERT: There are 2 PPP loans for a total of $3.48M in our database for businesses with the name "Robinson Drilling Of Texas LTD" in Big Spring, 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 Robinson Drilling Of Texas LTD
TX

Robinson Drilling Of Texas LTD

Entity: Partnership

Industry: Drilling Oil and Gas Wells

Location: Big Spring, TX

Search All PPP Data

Robinson Drilling Of Texas LTD is a partnership located at 1200 N Fm 700 in Big Spring, Texas that received a Coronavirus-related PPP loan from the SBA of $1,707,249.00 in March, 2021.

The company has reported itself as a female owned business, and employed at least 111 people during the applicable loan loan period.

$ PPP Loan Information Loan #9302578505

Loan Size:

$1.71M
PPP Funds Undisbursed

Jobs Retained:

111

Loan Approved:

2021-03-12

Loan Status:

Active Un-Disbursed

Lender:

Broadway National Bank

Robinson Drilling Of Texas LTD in Big Spring, TX received a Paycheck Protection Loan of $1.71M through Broadway National Bank, which was approved in March, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $1.71M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 2021.

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, Robinson Drilling Of Texas LTD's 2019 payroll expenses are estimated to be at least $8.19M.

Based on their reported 111 jobs retained, this equals an estimated average yearly compensation of $73,827 per employee1

Reported PPP Proceed Usage:

On the PPP application, Robinson Drilling Of Texas LTD reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,707,245
  • Utilities: $1

Business Information - Robinson Drilling Of Texas LTD in Big Spring, TX

Robinson Drilling Of Texas LTD
1200 N Fm 700
Big Spring, TX 79720

Business Industry:
Drilling Oil and Gas Wells
NAICS code 213111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Female Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Howard County, TX — SBA Office 0678 — Congressional District: TX-19

Similar Companies near Big Spring

In the Big Spring area, 4 businesses in the "Drilling Oil and Gas Wells" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 111) and received an average PPP loan of $909,262 (compared to this company's $1.71M).

Industry PPP Comparison Statistics

Nationwide, 4,866 businesses in the "Drilling Oil and Gas Wells" industry received a total of $731,139,172.00 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 10 employees, 91% lower than Robinson Drilling Of Texas LTD's reported 111 employees, and received an average PPP loan of $150,255, 91% lower than this company's loan of $1.71M.

SBA PPP loan data, payroll data, and salaries for Robinson Drilling Of Texas, LTD
TX

Robinson Drilling Of Texas, LTD

Entity: Partnership

Industry: Drilling Oil and Gas Wells

Location: Big Spring, TX

Search All PPP Data

Robinson Drilling Of Texas, LTD is a partnership located at 1200 N. Fm 700 in Big Spring, Texas that received a Coronavirus-related PPP loan from the SBA of $1,773,200.00 in April, 2020.

$ PPP Loan Information Loan #7510337208

Loan Size:

$1.77M
Likely Employment Reduction3

Jobs Retained:

64

Loan Approved:

2020-04-28

Loan Status:

Ongoing Loan

Lender:

Broadway National Bank

Robinson Drilling Of Texas, LTD in Big Spring, TX received a Paycheck Protection Loan of $1.77M through Broadway National Bank, 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.

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 64 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 85. 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 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, Robinson Drilling Of Texas, LTD's 2019 payroll expenses are estimated to be at least $8.51M (not accounting for salary amounts > $100k).

Because the 64 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, Robinson Drilling Of Texas, LTD reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,329,900
  • Utilities: $443,300

Business Information - Robinson Drilling Of Texas, LTD in Big Spring, TX

Robinson Drilling Of Texas, LTD
1200 N. Fm 700
Big Spring, TX 79720

Business Industry:
Drilling Oil and Gas Wells
NAICS code 213111

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: N

Rural / Urban: Urban

Howard County, TX — SBA Office 0678 — Congressional District: TX-19

Similar Companies near Big Spring

In the Big Spring area, 4 businesses in the "Drilling Oil and Gas Wells" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 64) and received an average PPP loan of $909,262 (compared to this company's $1.77M).

Industry PPP Comparison Statistics

Nationwide, 4,866 businesses in the "Drilling Oil and Gas Wells" industry received a total of $731,139,172.00 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 10 employees, 84% lower than Robinson Drilling Of Texas, LTD's reported 64 employees, and received an average PPP loan of $150,255, 92% lower than this company's loan of $1.77M.

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.

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/robinson-drilling-of-texas-ltd-big-spring-tx