Natural Gas Distribution

Businesses and organizations in the Natural Gas Distribution industry (NAICS code 2212, part of the Utilities sector) received 978 PPP loans totaling $142.5M during the COVID-19 pandemic.

The average loan for this industry was $145,688 — above the national PPP average of approximately $67,000. This reflects the small business character of most participants in this industry, typically sole proprietors and micro-businesses with modest payroll obligations.

95.7% of loans in this industry were forgiven — totaling $139.4M. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include IGS VENTURES, INC. of DUBLIN, OH ($10,000,000); UNITED PETROLEUM TRANSPORTS, INC. of OKLAHOMA CITY, OK ($5,976,250); and INFINITE ENERGY INC. of GAINESVILLE, FL ($4,431,500).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Utilities sector — electric, natural gas, steam, water, and sewage systems. — businesses in NAICS 2212 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.