PPP Loan Data — Bennett & Mantor CPAs, Sequim, WA
Bennett & Mantor CPAs is a joint venture located at 350 W Washington St Suite 3 in Sequim, Washington that received a Coronavirus-related PPP loan from the SBA of $24,975.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Federal Savings & Loan Association of Port Angeles d/b/a First Federal
Bennett & Mantor CPAs in Sequim, WA received a Paycheck Protection Loan of $24,975 through First Federal Savings & Loan Association of Port Angeles d/b/a First Federal, which was approved in April, 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 June, 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, Bennett & Mantor CPAs' 2019 payroll expenses are estimated to be at least $119,880.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,960 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bennett & Mantor CPAs reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,975
Business Information - Bennett & Mantor CPAs in Sequim, WA
350 W Washington St Suite 3
Sequim, WA 98382
Tax Preparation Services
NAICS code 541213
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Sequim
In the Sequim area, 6 businesses in the "Tax Preparation Services" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $40,061 (compared to this company's $24,975).
Similar Nearby Businesses Who Received PPP Funding:
Martin & Company Inc Ps
Parker Mooers & Cena Ps
Sequim Tax Service
Sequim Tax Service Inc
Industry PPP Comparison Statistics
Nationwide, 50,853 businesses in the "Tax Preparation Services" industry received a total of $1.1B 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 3 employees, the same amount reported by Bennett & Mantor CPAs and received an average PPP loan of $21,684, 13% lower than this company's loan of $24,975.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!