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PPP Loan Data — Tom-E-Lee Industries LLC,
Midland, TX
Tom-E-Lee Industries LLC
Entity: Limited Liability Company (LLC)
Industry: Support Activities for Oil and Gas Operations
Location: Midland, TX
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Tom-E-Lee Industries LLC is a limited liability company (LLC) located at 11206 W County Road 148 in Midland, Texas that received a Coronavirus-related PPP loan from the SBA of $808,616.00 in March, 2021.
The company has reported itself as a male owned business, and employed at least 40 people during the applicable loan loan period.
$
PPP Loan Information
Loan #2932298605
Loan Size:
Jobs Retained:
40Loan Approved:
2021-03-16Loan Status:
Ongoing LoanLender:
FirstCapital Bank of Texas, National AssociationTom-E-Lee Industries LLC in Midland, TX received a Paycheck Protection Loan of $808,616 through FirstCapital Bank of Texas, National Association, which was approved in March, 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, Tom-E-Lee Industries LLC's 2019 payroll expenses are estimated to be at least $3.88M.
Based on their reported 40 jobs retained, this equals an estimated average yearly compensation of $97,034 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tom-E-Lee Industries LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $808,613
- Utilities: $1
Business Information - Tom-E-Lee Industries LLC in Midland, TX
11206 W County Road 148
Midland, TX 79706
Business Industry:
Support Activities for Oil and Gas Operations
NAICS code 213112
Business Owner Demographics
Race: Unreported
Ethnicity: Hispanic or Latino
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
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Tom-E-Lee Industries LLC.
Tom-E-Lee Trucking LLC
Specialized Freight (except Used Goods) Trucking, Local
Similar Companies near Midland
In the Midland area, 564 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 40) and received an average PPP loan of $294,682 (compared to this company's $808,616).
Similar Nearby Businesses Who Received PPP Funding:
Caul Craighead
Midland, TX
Brayden Ty Tidwell
Midland, TX
Feagan Gathering Company
Midland, TX
Trinity Pallets, Inc
Midland, TX
Moriah Tfs Operations LLC
Midland, TX
Legacy Trucking Services, LLC
Midland, TX
Well Servicing Inc
Midland, TX
Siekerbynum Rentals, LLC
Midland, TX
Pannell Properties, Inc
Midland, 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, 70% lower than Tom-E-Lee Industries LLC's reported 40 employees, and received an average PPP loan of $185,324, 77% lower than this company's loan of $808,616.
Tom-E-Lee Industries, LLC
Entity: Limited Liability Company (LLC)
Industry: General Freight Trucking, Local
Location: Midland, TX
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Tom-E-Lee Industries, LLC is a limited liability company (LLC) located at 11206 W. County Road 148 in Midland, Texas that received a Coronavirus-related PPP loan from the SBA of $3,704,200.00 in April, 2020.
$
PPP Loan Information
Loan #9603747102
Loan Size:
Jobs Retained:
96Loan Approved:
2020-04-15Loan Status:
Ongoing LoanLender:
FirstCapital Bank of Texas, National AssociationTom-E-Lee Industries, LLC in Midland, TX received a Paycheck Protection Loan of $3.7M through FirstCapital Bank of Texas, National Association, 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 96 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 178. 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 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, Tom-E-Lee Industries, LLC's 2019 payroll expenses are estimated to be at least $17.78M (not accounting for salary amounts > $100k).
Because the 96 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, Tom-E-Lee Industries, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,704,200
Business Information - Tom-E-Lee Industries, LLC in Midland, TX
11206 W. County Road 148
Midland, TX 79706
Business Industry:
General Freight Trucking, Local
NAICS code 484110
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
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Tom-E-Lee Industries, LLC.
Tom-E-Lee Trucking, LLC
General Freight Trucking, Local
Similar Companies near Midland
In the Midland area, 294 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 96) and received an average PPP loan of $51,928 (compared to this company's $3.7M).
Similar Nearby Businesses Who Received PPP Funding:
Ayodele Gisanrin
Midland, TX
DYU Trucking
Midland, TX
Leslie Roquemore
Midland, TX
Alan R. Trucking LLC
Midland, TX
Berlins Ortiz
Midland, TX
Fernando Ramos
Midland, TX
Gerardo Esquivel
Midland, TX
Max-Pride Trucking, LLC
Midland, TX
Peter Igharoro
Midland, TX
Industry PPP Comparison Statistics
Nationwide, 172,322 businesses in the "General Freight Trucking, Local" industry received a total of $6.52B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 96% lower than Tom-E-Lee Industries, LLC's reported 96 employees, and received an average PPP loan of $37,823, 99% lower than this company's loan of $3.7M.
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.
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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