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PPP Loan Information — SAMSON TUG & BARGE CO INC

SBA PPP loan data, payroll data, and salaries for
AK

SAMSON TUG & BARGE CO INC

Business Type: Subchapter S Corporation

Industry: Coastal and Great Lakes Freight Transportation

Location: SITKA, AK

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SAMSON TUG & BARGE CO INC is a subchapter s corporation located in Sitka, Alaska that received a Coronavirus-related PPP loan from the SBA of at least $2,000,000.00 in April, 2020.

PPP Loan Information

Loan Size:

$2M to $5M
Likely Actual Range:
$2M to $2.83M

Jobs Retained:

136

Loan Approved:

2020-04-29

Lender:

Northrim Bank

SAMSON TUG & BARGE CO INC received a Paycheck Protection Loan of between 2M and 5M through Northrim Bank, which was approved in April, 2020.

When accounting for 136 claimed employees and the PPP salary cap of $100k per employee, the actual maximum PPP received by this business is likely $2.83M2.

Based on standard PPP eligibility rules, SAMSON TUG & BARGE CO INC's total 2019 payroll expenses were between $9.6M and $13.6M+ in order to qualify for the PPP loan amount received. Based on their reported 136 jobs retained, this equals an estimated average yearly compensation between $70,588 and $100,000+ per employee1.

Because the loan received by SAMSON TUG & BARGE CO INC 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 - SAMSON TUG & BARGE CO INC in SITKA, AK

SAMSON TUG & BARGE CO INC
132 Lincoln St
SITKA, AK 99835

Business Industry

Coastal and Great Lakes Freight Transportation (NAICS code 483113)

Business Owner Demographics

Race / Ethnicity: White

Gender: Female Owned

Veteran Status: Non-Veteran

AK - 00


Employee Statistics

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for private companies that received a PPP loan of $150,000 or over. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.


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.

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/60-north-seafoods-llc-cordova-ak