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PPP Loan Data — Bellingham Marine Industries, Inc., Bellingham, WA

SBA PPP loan data, payroll data, and salaries for Bellingham Marine Industries, Inc.
WA

Bellingham Marine Industries, Inc.

Entity: Corporation

Industry: Other Heavy and Civil Engineering Construction

Location: Bellingham, WA

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Bellingham Marine Industries, Inc. is a corporation located at 1323 Lincoln Street in Bellingham, Washington that received a Coronavirus-related PPP loan from the SBA of $4,324,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.32M

Jobs Retained:

500

Loan Approved:

2020-04-13

Lender:

BANK OF THE PACIFIC

Bellingham Marine Industries, Inc. received a Paycheck Protection Loan of $4.32M through BANK OF THE PACIFIC, which was approved in April, 2020.

Based on standard PPP eligibility rules, Bellingham Marine Industries, Inc.'s total 2019 payroll expenses were approximately $20.76M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $41,511 per employee1.

Because the loan received by Bellingham Marine Industries, 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 - Bellingham Marine Industries, Inc. in Bellingham, WA

Bellingham Marine Industries, Inc.
1323 Lincoln Street
Bellingham, WA 98229

Business Industry

Other Heavy and Civil Engineering Construction (NAICS code 237990)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: WA-02

Industry PPP Comparison Statistics

Nationwide, 5,686 businesses in the "Other Heavy and Civil Engineering Construction" industry received a total of $1,754,404,434.00 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 19 employees, 96% lower than Bellingham Marine Industries, Inc.'s reported 500 employees, and received an average PPP loan of $308,548, 93% lower than this company's loan of $4.32M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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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/bellingham-marine-industries-inc-bellingham-wa