PPP Loan Data — Best Plumbing And Heating, Inc, Seattle, WA
Best Plumbing And Heating, Inc
Location: Seattle, WATweet This • Search All PPP Data
Best Plumbing And Heating, Inc is a corporation located at 4129 Stone Way N in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $1,646,070.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Best Plumbing And Heating, Inc in Seattle, WA received a Paycheck Protection Loan of $1.65M through JPMorgan Chase Bank, National Association, 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 March, 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, Best Plumbing And Heating, Inc's 2019 payroll expenses are estimated to be at least $7.9M.
Based on their reported 98 jobs retained, this equals an estimated average yearly compensation of $80,624 per employee1
Reported PPP Proceed Usage:
On the PPP application, Best Plumbing And Heating, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,436,270
- Utilities: $10,500
- Rent: $79,500
- Health Care: $117,000
- Debt Interest: $2,800
Business Information - Best Plumbing And Heating, Inc in Seattle, WA
4129 Stone Way N
Seattle, WA 98103
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Seattle
In the Seattle area, 5 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 98) and received an average PPP loan of $365,392 (compared to this company's $1.65M).
Similar Nearby Businesses Who Received PPP Funding:
Lake City Plumbing Inc
Go Green Heating And Air Conditioning LLC
Adler Ventilation & Environmental Services Inc
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 90% lower than Best Plumbing And Heating, Inc's reported 98 employees, and received an average PPP loan of $123,520, 92% lower than this company's loan of $1.65M.
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Footnotes & Information
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