PPP Loan Data — Donovan Marine Inc, New Orleans, LA
Donovan Marine Inc
Location: New Orleans, LATweet This • Search All PPP Data
Donovan Marine Inc is a corporation located at 6316 Humphreys Street in New Orleans, Louisiana that received a Coronavirus-related PPP loan from the SBA of $5,183,727.00 in April, 2020.
$ PPP Loan Information
Lender:FIRST HORIZON BANK
Donovan Marine Inc in New Orleans, LA received a Paycheck Protection Loan of $5.18M through FIRST HORIZON BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Donovan Marine Inc's total 2019 payroll expenses were approximately $24.88M in order to qualify for the PPP loan amount received.
Based on their reported 442 jobs retained, this equals an estimated average yearly compensation of $56,294 per employee1.
Business Information - Donovan Marine Inc in New Orleans, LA
6316 Humphreys Street
New Orleans, LA 70123
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: LA-01
Similar Companies near New Orleans
In the New Orleans area, 4 businesses in the "Transportation Equipment and Supplies (except Motor Vehicle) Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 140 employees (compared to this company's 442) and received an average PPP loan of $1,601,404 (compared to this company's $5.18M).
Similar Nearby Businesses Who Received PPP Funding:
Pope Marine Inc
River Ridge, LA
Sea Chest Inc
New Orleans, LA
Gulf Marine And Industrial Supplies
New Orleans, LA
Industry PPP Comparison Statistics
Nationwide, 2,260 businesses in the "Transportation Equipment and Supplies (except Motor Vehicle) Merchant Wholesalers" industry received a total of $288,357,851.00 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 9 employees, 98% lower than Donovan Marine Inc's reported 442 employees, and received an average PPP loan of $127,592, 98% lower than this company's loan of $5.18M.
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, 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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