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PPP Loan Data — Tierra Lease Service LLC,
Karnes City, TX
Tierra Lease Service LLC
Entity: Limited Liability Company (LLC)
Industry: Support Activities for Oil and Gas Operations
Location: Karnes City, TX
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Tierra Lease Service LLC is a limited liability company (LLC) located at 1538 County Road 345 in Karnes City, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
$
PPP Loan Information
Loan #4720858310
Loan Size:
Jobs Retained:
299Loan Approved:
2021-01-23Loan Status:
Paid in Full or ForgivenLender:
Texas Champion BankTierra Lease Service LLC in Karnes City, TX received a Paycheck Protection Loan of $2M through Texas Champion Bank, which was approved in January, 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 July, 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 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, Tierra Lease Service LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 299 jobs retained, this equals an estimated average yearly compensation of $32,107 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tierra Lease Service LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,994
- Utilities: $1
Business Information - Tierra Lease Service LLC in Karnes City, TX
1538 County Road 345
Karnes City, TX 78118
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: N
HUBZone: N
Rural / Urban: Rural
Similar Companies near Karnes City
In the Karnes City area, 12 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 70 employees (compared to this company's 299) and received an average PPP loan of $663,870 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Nexgen Water Solutions LLC
Kenedy, TX
Grace Production Services LLC
Kenedy, TX
Britanco LLC
Karnes City, TX
Eltex Wash Rack Services Inc
Karnes City, TX
C & H Services
Kenedy, TX
Custer Resources & Associates LLC
Kenedy, TX
Industry PPP Comparison Statistics
Nationwide, 20,749 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.85B 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, 96% lower than Tierra Lease Service LLC's reported 299 employees, and received an average PPP loan of $185,324, 91% lower than this company's loan of $2M.
Tierra Lease Service, LLC
Entity: Limited Liability Company (LLC)
Industry: Support Activities for Oil and Gas Operations
Location: Karnes City, TX
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•
Search All PPP Data
Tierra Lease Service, LLC is a limited liability company (LLC) located at 1538 County Road 345 in Karnes City, Texas that received a Coronavirus-related PPP loan from the SBA of $3,902,892.00 in April, 2020.
$
PPP Loan Information
Loan #7823027003
Loan Size:
Jobs Retained:
377Loan Approved:
2020-04-08Loan Status:
Paid in Full or ForgivenLender:
Texas Champion BankTierra Lease Service, LLC in Karnes City, TX received a Paycheck Protection Loan of $3.9M through Texas Champion Bank, 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 June, 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 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, Tierra Lease Service, LLC's 2019 payroll expenses are estimated to be at least $18.73M.
Based on their reported 377 jobs retained, this equals an estimated average yearly compensation of $49,692 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tierra Lease Service, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,902,892
Business Information - Tierra Lease Service, LLC in Karnes City, TX
1538 County Road 345
Karnes City, TX 78118
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: N
HUBZone: Y
Rural / Urban: Rural
Similar Companies near Karnes City
In the Karnes City area, 12 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 70 employees (compared to this company's 377) and received an average PPP loan of $663,870 (compared to this company's $3.9M).
Similar Nearby Businesses Who Received PPP Funding:
Nexgen Water Solutions LLC
Kenedy, TX
Grace Production Services LLC
Kenedy, TX
Britanco LLC
Karnes City, TX
Eltex Wash Rack Services Inc
Karnes City, TX
C & H Services
Kenedy, TX
Custer Resources & Associates LLC
Kenedy, TX
Industry PPP Comparison Statistics
Nationwide, 20,749 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.85B 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, 97% lower than Tierra Lease Service, LLC's reported 377 employees, and received an average PPP loan of $185,324, 95% lower than this company's loan of $3.9M.
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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