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PPP Loan Data — Society Of Petroleum Engineers (Spe) Inc,
Richardson, TX
Society Of Petroleum Engineers (Spe) Inc
Entity: Non-profit Organization
Industry: Professional Organizations
Location: Richardson, TX
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Society Of Petroleum Engineers (Spe) Inc is a non-profit organization located at 222 Palisades Creek Dr in Richardson, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #4322288408
Loan Size:
Jobs Retained:
149Loan Approved:
2021-02-06Loan Status:
Ongoing LoanLender:
East West BankSociety Of Petroleum Engineers (Spe) Inc in Richardson, TX received a Paycheck Protection Loan of $2M through East West Bank, which was approved in February, 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 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, Society Of Petroleum Engineers (Spe) Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 149 jobs retained, this equals an estimated average yearly compensation of $64,430 per employee1
Reported PPP Proceed Usage:
On the PPP application, Society Of Petroleum Engineers (Spe) Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Society Of Petroleum Engineers (Spe) Inc in Richardson, TX
222 Palisades Creek Dr
Richardson, TX 75080
Business Industry:
Professional Organizations
NAICS code 813920
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
Similar Companies near Richardson
In the Richardson area, 6 businesses in the "Professional Organizations" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 149) and received an average PPP loan of $908,817 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
The Commercial Network
Richardson, TX
LPC, Inc
Richardson, TX
Fulcrum Nurse Consulting, LLC
Richardson, TX
Shawn W Chrisman
Richardson, TX
Industry PPP Comparison Statistics
Nationwide, 8,603 businesses in the "Professional Organizations" industry received a total of $866.17M 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 9 employees, 94% lower than Society Of Petroleum Engineers (Spe) Inc's reported 149 employees, and received an average PPP loan of $100,682, 95% lower than this company's loan of $2M.
Society Of Petroleum Engineers (Spe) Inc
Entity: Non-profit Organization
Industry: Professional Organizations
Location: Richardson, TX
Tweet This
•
Search All PPP Data
Society Of Petroleum Engineers (Spe) Inc is a non-profit organization located at 222 Palisades Creek Dr in Richardson, Texas that received a Coronavirus-related PPP loan from the SBA of $3,050,800.00 in April, 2020.
The company has reported itself as a White male owned non-profit, and employed at least 153 people during the applicable loan loan period.
$
PPP Loan Information
Loan #1610487109
Loan Size:
Jobs Retained:
153Loan Approved:
2020-04-10Loan Status:
Ongoing LoanLender:
East West BankSociety Of Petroleum Engineers (Spe) Inc in Richardson, TX received a Paycheck Protection Loan of $3.05M through East West 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.
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, Society Of Petroleum Engineers (Spe) Inc's 2019 payroll expenses are estimated to be at least $14.64M.
Based on their reported 153 jobs retained, this equals an estimated average yearly compensation of $95,711 per employee1
Reported PPP Proceed Usage:
On the PPP application, Society Of Petroleum Engineers (Spe) Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,050,800
Business Information - Society Of Petroleum Engineers (Spe) Inc in Richardson, TX
222 Palisades Creek Dr
Richardson, TX 75080
Business Industry:
Professional Organizations
NAICS code 813920
Business Owner Demographics
Race: White
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Richardson
In the Richardson area, 6 businesses in the "Professional Organizations" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 153) and received an average PPP loan of $908,817 (compared to this company's $3.05M).
Similar Nearby Businesses Who Received PPP Funding:
The Commercial Network
Richardson, TX
LPC, Inc
Richardson, TX
Fulcrum Nurse Consulting, LLC
Richardson, TX
Shawn W Chrisman
Richardson, TX
Industry PPP Comparison Statistics
Nationwide, 8,603 businesses in the "Professional Organizations" industry received a total of $866.17M 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 9 employees, 94% lower than Society Of Petroleum Engineers (Spe) Inc's reported 153 employees, and received an average PPP loan of $100,682, 97% lower than this company's loan of $3.05M.
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.
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