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PPP Loan Data — Conrad Industries, Inc.,
Morgan City, LA
Conrad Industries, Inc.
Entity: Corporation
Industry: Ship Building and Repairing
Location: Morgan City, LA
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Conrad Industries, Inc. is a corporation located at 1100 Brashear Ave in Morgan City, Louisiana that received a Coronavirus-related PPP loan from the SBA of $8,091,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
473Loan Approved:
2020-04-11Lender:
HANCOCK WHITNEY BANKConrad Industries, Inc. received a Paycheck Protection Loan of $8.09M through HANCOCK WHITNEY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Conrad Industries, Inc.'s total 2019 payroll expenses were approximately $38.84M in order to qualify for the PPP loan amount received.
Based on their reported 473 jobs retained, this equals an estimated average yearly compensation of $82,107 per employee1.
Business Information - Conrad Industries, Inc. in Morgan City, LA
1100 Brashear Ave
Morgan City, LA 70380
Business Industry
Ship Building and Repairing (NAICS code 336611)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: LA-03Similar Companies near Morgan City
In the Morgan City area, 7 businesses in the "Ship Building and Repairing" industry received a PPP loan. These local businesses reported an average of 123 employees (compared to this company's 473) and received an average PPP loan of $1,840,906 (compared to this company's $8.09M).
Similar Nearby Businesses Who Received PPP Funding:
Washburn Marine Shipyard, LLC
Morgan City, LA
BNA Marine Services, LLC
Amelia, LA
A & M Dockside Repair, Inc.
Morgan City, LA
Permanent Workers LLC
Morgan City, LA
Seacraft Shipyard, LLC
Morgan City, LA
LAD Services Of Louisiana LLC
Morgan City, LA
Industry PPP Comparison Statistics
Nationwide, 683 businesses in the "Ship Building and Repairing" industry received a total of $279,273,080.00 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 25 employees, 95% lower than Conrad Industries, Inc.'s reported 473 employees, and received an average PPP loan of $408,892, 95% lower than this company's loan of $8.09M.
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.
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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