PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Boly/Welch Inc, Portland, OR

ALERT: There are 2 PPP loans for a total of $4.33M in our database for businesses with the name "Boly/Welch Inc" in Portland, OR. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Boly/Welch Inc
OR

Boly/Welch Inc

Entity: Corporation

Industry: Employment Placement Agencies

Location: Portland, OR

Search All PPP Data

Boly/Welch Inc is a corporation located at 920 Sw 6th Ave Ste 100 in Portland, Oregon that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.

The company has reported itself as a White female owned business, and employed at least 140 people during the applicable loan loan period.

$ PPP Loan Information
Loan #7269858602

Loan Size:

$2M

Jobs Retained:

140

Loan Approved:

2021-03-23

Loan Status:

Ongoing Loan

Lender:

Umpqua Bank

Boly/Welch Inc in Portland, OR received a Paycheck Protection Loan of $2M through Umpqua Bank, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Boly/Welch Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 140 jobs retained, this equals an estimated average yearly compensation of $68,571 per employee1

Reported PPP Proceed Usage:

On the PPP application, Boly/Welch Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,998
  • Utilities: $1
Because the loan received by Boly/Welch 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 - Boly/Welch Inc in Portland, OR

Boly/Welch Inc
920 Sw 6th Ave Ste 100
Portland, OR 97204

Business Industry:
Employment Placement Agencies
NAICS code 561311

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Multnomah County, OR — SBA Office 1086 — Congressional District: OR-03

Similar Companies near Portland

In the Portland area, 11 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 112 employees (compared to this company's 140) and received an average PPP loan of $1,005,655 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 12,601 businesses in the "Employment Placement Agencies" industry received a total of $3.48B 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 35 employees, 75% lower than Boly/Welch Inc's reported 140 employees, and received an average PPP loan of $275,915, 86% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Boly/Welch Inc
OR

Boly/Welch Inc

Entity: Corporation

Industry: Employment Placement Agencies

Location: Portland, OR

Search All PPP Data

Boly/Welch Inc is a corporation located at 920 Sw 6th Ave Suite 100 in Portland, Oregon that received a Coronavirus-related PPP loan from the SBA of $2,325,800.00 in April, 2020.

The company has reported itself as a White female owned business, and employed at least 243 people during the applicable loan loan period.

$ PPP Loan Information
Loan #7893887107

Loan Size:

$2.33M

Jobs Retained:

243

Loan Approved:

2020-04-14

Loan Status:

Ongoing Loan

Lender:

Umpqua Bank

Boly/Welch Inc in Portland, OR received a Paycheck Protection Loan of $2.33M through Umpqua Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Boly/Welch Inc's 2019 payroll expenses are estimated to be at least $11.16M.

Based on their reported 243 jobs retained, this equals an estimated average yearly compensation of $45,942 per employee1

Reported PPP Proceed Usage:

On the PPP application, Boly/Welch Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,325,800
Because the loan received by Boly/Welch 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 - Boly/Welch Inc in Portland, OR

Boly/Welch Inc
920 Sw 6th Ave Suite 100
Portland, OR 97204

Business Industry:
Employment Placement Agencies
NAICS code 561311

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Multnomah County, OR — SBA Office 1086 — Congressional District: OR-03

Similar Companies near Portland

In the Portland area, 11 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 112 employees (compared to this company's 243) and received an average PPP loan of $1,005,655 (compared to this company's $2.33M).

Industry PPP Comparison Statistics

Nationwide, 12,601 businesses in the "Employment Placement Agencies" industry received a total of $3.48B 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 35 employees, 86% lower than Boly/Welch Inc's reported 243 employees, and received an average PPP loan of $275,915, 88% lower than this company's loan of $2.33M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/bolywelch-inc-portland-or