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PPP Loan Data — Urban Oil & Gas Group, LLC, Plano, TX

SBA PPP loan data, payroll data, and salaries for Urban Oil & Gas Group, LLC
TX

Urban Oil & Gas Group, LLC

Entity: Corporation

Industry: Drilling Oil and Gas Wells

Location: Plano, TX

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Urban Oil & Gas Group, LLC is a corporation located at 1000 E 14th St in Plano, Texas that received a Coronavirus-related PPP loan from the SBA of $3,112,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.11M

Jobs Retained:

168

Loan Approved:

2020-04-05

Lender:

BOKF, NATIONAL ASSOCIATION

Urban Oil & Gas Group, LLC in Plano, TX received a Paycheck Protection Loan of $3.11M through BOKF, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Urban Oil & Gas Group, LLC's total 2019 payroll expenses were approximately $14.94M in order to qualify for the PPP loan amount received.

Based on their reported 168 jobs retained, this equals an estimated average yearly compensation of $88,920 per employee1.

Because the loan received by Urban Oil & Gas Group, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Urban Oil & Gas Group, LLC in Plano, TX

Urban Oil & Gas Group, LLC
1000 E 14th St
Plano, TX 75074

Business Industry

Drilling Oil and Gas Wells (NAICS code 213111)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-03

Similar Companies near Plano

In the Plano area, 3 businesses in the "Drilling Oil and Gas Wells" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 168) and received an average PPP loan of $1,146,574 (compared to this company's $3.11M).

Industry PPP Comparison Statistics

Nationwide, 2,946 businesses in the "Drilling Oil and Gas Wells" industry received a total of $499,833,830.00 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 11 employees, 93% lower than Urban Oil & Gas Group, LLC's reported 168 employees, and received an average PPP loan of $169,665, 95% lower than this company's loan of $3.11M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/urban-oil-and-gas-group-llc-plano-tx