PPP Loan Data — Douglas + Linda Lee, Rockland, ME
Douglas + Linda Lee is a sole proprietorship located at Po Box 482 in Rockland, Maine that received a Coronavirus-related PPP loan from the SBA of $45,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank
Douglas + Linda Lee in Rockland, ME received a Paycheck Protection Loan of $45,900 through First National Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
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, Douglas + Linda Lee's 2019 payroll expenses are estimated to be at least $220,320.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,029 per employee1
Reported PPP Proceed Usage:
On the PPP application, Douglas + Linda Lee reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,425
- Utilities: $5,738
- Rent: $5,738
Business Information - Douglas + Linda Lee in Rockland, ME
Po Box 482
Rockland, ME 4841
Ship Building and Repairing
NAICS code 336611
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Rockland
In the Rockland area, 3 businesses in the "Ship Building and Repairing" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 11) and received an average PPP loan of $274,357 (compared to this company's $45,900).
Similar Nearby Businesses Who Received PPP Funding:
Rockland Marine Corporation
Industry PPP Comparison Statistics
Nationwide, 1,250 businesses in the "Ship Building and Repairing" industry received a total of $395.19M 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 25 employees, 127% higher than Douglas + Linda Lee's reported 11 employees, and received an average PPP loan of $316,151, 589% higher than this company's loan of $45,900.
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Footnotes & Information
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