PPP Loan Data — Cascade Security Corporation, Bellevue, WA
Cascade Security Corporation is a corporation located at 13417 Ne 20th Street in Bellevue, Washington that received a Coronavirus-related PPP loan from the SBA of $1,894,103.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Washington Federal Bank, National Association
Cascade Security Corporation in Bellevue, WA received a Paycheck Protection Loan of $1.89M through Washington Federal Bank, National Association, 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
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, Cascade Security Corporation's 2019 payroll expenses are estimated to be at least $9.09M.
Based on their reported 260 jobs retained, this equals an estimated average yearly compensation of $34,968 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cascade Security Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,894,103
Business Information - Cascade Security Corporation in Bellevue, WA
13417 Ne 20th Street
Bellevue, WA 98005
Security Guards and Patrol Services
NAICS code 561612
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bellevue
In the Bellevue area, 6 businesses in the "Security Guards and Patrol Services" industry received a PPP loan. These local businesses reported an average of 135 employees (compared to this company's 260) and received an average PPP loan of $1,292,281 (compared to this company's $1.89M).
Similar Nearby Businesses Who Received PPP Funding:
Decatur Gardens LLC
Star Protection Agency LLC
Washingtons National Security Enforcement Agency
SRC Private Security LLC
Stewart Investments, Inc DBA Security 10 1 - Seattle
Industry PPP Comparison Statistics
Nationwide, 14,660 businesses in the "Security Guards and Patrol Services" industry received a total of $1.46B 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 18 employees, 93% lower than Cascade Security Corporation's reported 260 employees, and received an average PPP loan of $99,483, 95% lower than this company's loan of $1.89M.
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Footnotes & Information
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