PETROLEUM CARRIERS, L.L.C.
PPP Loan approved Jan 23, 2021 through Manufacturers and Traders Trust Company
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $1,468,412.00 | 100.0% |
| Utilities | $1.00 | 0.0% |
About This Loan
PETROLEUM CARRIERS, L.L.C. received a PPP loan of $1,468,415 approved on Jan 23, 2021. The loan was originated by Manufacturers and Traders Trust Company.
PETROLEUM CARRIERS, L.L.C. is a limited liability company(llc) located in RICHMOND, Virginia. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Other Pipeline Transportation industry (NAICS 486910), part of the Transportation and Warehousing sector of the economy. The applicant reported 109 jobs as retained through this loan.
The SBA forgave $1,479,438.17 of this loan — 100.8% of the total approved amount, with forgiveness recorded on Nov 1, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $1,468,412 to payroll, $1 to utilities. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Virginia, visit the Virginia page. To compare this loan with others in the same industry, see the Other Pipeline Transportation industry page.