PPP Loan Data — True Chemical Solutions LLC, Midland, TX
True Chemical Solutions LLC is a limited liability company (LLC) located at 6214 Wcr 112 in Midland, Texas that received a Coronavirus-related PPP loan from the SBA of $760,800.00 in April, 2020.
$ PPP Loan Information
True Chemical Solutions LLC received a Paycheck Protection Loan of $760,800 through COMERICA BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, True Chemical Solutions LLC's total 2019 payroll expenses were approximately $3.65M in order to qualify for the PPP loan amount received.
Based on their reported 43 jobs retained, this equals an estimated average yearly compensation of $84,927 per employee1.
Business Information - True Chemical Solutions LLC in Midland, TX
6214 Wcr 112
Midland, TX 79706
Support Activities for Oil and Gas Operations (NAICS code 213112)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-11
Similar Companies near Midland
In the Midland area, 332 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 43) and received an average PPP loan of $305,402 (compared to this company's $760,800).
Similar Nearby Businesses Who Received PPP Funding:
Majestic Petroleum Services LLC
Guitar Swd, LLC
Pierce Fluids Consulting, LLC
Venus Oilfield Solutions, LLC
Oilfield Solutions, LTD
Blackline Energy Services, LLC
JMR Services LLC
Robert Sean Aaron
Shamrock Field Services, LLC
Industry PPP Comparison Statistics
Nationwide, 11,335 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $2,439,543,076.00 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 13 employees, 70% lower than True Chemical Solutions LLC's reported 43 employees, and received an average PPP loan of $215,222, 72% lower than this company's loan of $760,800.
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. 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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