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PPP Loan Data — Dann Marine Towing, Lc, Chesapeake City, MD

SBA PPP loan data, payroll data, and salaries for Dann Marine Towing, Lc
MD

Dann Marine Towing, Lc

Entity: Limited Liability Company (LLC)

Industry: Coastal and Great Lakes Passenger Transportation

Location: Chesapeake City, MD

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Dann Marine Towing, Lc is a limited liability company (LLC) located at 299 Boat Yard Road in Chesapeake City, Maryland that received a Coronavirus-related PPP loan from the SBA of $3,147,145.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.15M

Jobs Retained:

186

Loan Approved:

2020-04-15

Lender:

MANUFACTURERS AND TRADERS TRUST COMPANY

Dann Marine Towing, Lc received a Paycheck Protection Loan of $3.15M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Dann Marine Towing, Lc's total 2019 payroll expenses were approximately $15.11M in order to qualify for the PPP loan amount received.

Based on their reported 186 jobs retained, this equals an estimated average yearly compensation of $81,217 per employee1.

Because the loan received by Dann Marine Towing, Lc 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 - Dann Marine Towing, Lc in Chesapeake City, MD

Dann Marine Towing, Lc
299 Boat Yard Road
Chesapeake City, MD 21915

Business Industry

Coastal and Great Lakes Passenger Transportation (NAICS code 483114)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MD-01

Industry PPP Comparison Statistics

Nationwide, 106 businesses in the "Coastal and Great Lakes Passenger Transportation" industry received a total of $31,970,730.00 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 22 employees, 88% lower than Dann Marine Towing, Lc's reported 186 employees, and received an average PPP loan of $301,611, 90% lower than this company's loan of $3.15M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/dann-marine-towing-lc-chesapeake-city-md