PPP Loan Data — Titan Oilfield Services, LLC, Dickinson, ND
Titan Oilfield Services, LLC
Entity: Limited Liability Company (LLC)
Location: Dickinson, NDTweet This • Search All PPP Data
Titan Oilfield Services, LLC is a limited liability company (LLC) located at 11041 32nd St Sw in Dickinson, North Dakota that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2020.
The company has reported itself as a female veteran owned business, and employed at least 86 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:American Bank Center
Titan Oilfield Services, LLC in Dickinson, ND received a Paycheck Protection Loan of $2M through American Bank Center, which was approved in April, 2020.
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
Understanding Payroll Estimates Based On PPP Amount
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, Titan Oilfield Services, LLC's 2019 payroll expenses are estimated to be at least $9.6M (not accounting for salary amounts > $100k).
Because the 86 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, Titan Oilfield Services, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,878,525
- Utilities: $13,200
- Rent: $87,600
- Debt Interest: $20,675
Business Information - Titan Oilfield Services, LLC in Dickinson, ND
11041 32nd St Sw
Dickinson, ND 58601
Oil and Gas Pipeline and Related Structures Construction
NAICS code 237120
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Dickinson
In the Dickinson area, 4 businesses in the "Oil and Gas Pipeline and Related Structures Construction" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 86) and received an average PPP loan of $520,469 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Wild Card Construction, LLC
Industry PPP Comparison Statistics
Nationwide, 3,051 businesses in the "Oil and Gas Pipeline and Related Structures Construction" industry received a total of $1.06B 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, 73% lower than Titan Oilfield Services, LLC's reported 86 employees, and received an average PPP loan of $346,117, 83% lower than this company's loan of $2M.
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Footnotes & Information
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