PPP Loan Data — US Well Services LLC, Houston, TX
US Well Services LLC is a limited liability company (LLC) located at 1360 Post Oak Blvd Ste 1800 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in July, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
US Well Services LLC in Houston, TX received a Paycheck Protection Loan of $10M through Bank of America, National Association, which was approved in July, 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 September, 2021.
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, US Well Services LLC's 2019 payroll expenses are estimated to be at least $48M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, US Well Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $10,000,000
Business Information - US Well Services LLC in Houston, TX
1360 Post Oak Blvd Ste 1800
Houston, TX 77056
Support Activities for Oil and Gas Operations
NAICS code 213112
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 79 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 500) and received an average PPP loan of $461,093 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
Exaro Energy III LLC
Stage 3 Separation LLC
Pegasus Holdco Group LLC
Black Iron Corporation
Axis Marketing LLC
Vajk Energy International LLC
Pioneer Exploration LLC
Helios Operating, LLC
Stim Tech LLC
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, 98% lower than US Well Services LLC's reported 500 employees, and received an average PPP loan of $185,324, 98% lower than this company's loan of $10M.
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Footnotes & Information
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