PPP Loan Data — Fairhaven Floors LLC, Bellingham, WA
Fairhaven Floors LLC is a limited liability company (LLC) located at 2001 Masonry Way Suite 106 in Bellingham, Washington that received a Coronavirus-related PPP loan from the SBA of $46,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Fairhaven Floors LLC in Bellingham, WA received a Paycheck Protection Loan of $46,900 through Umpqua Bank, which was approved in April, 2020.
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, Fairhaven Floors LLC's 2019 payroll expenses are estimated to be at least $225,120.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,520 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fairhaven Floors LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,900
Business Information - Fairhaven Floors LLC in Bellingham, WA
2001 Masonry Way Suite 106
Bellingham, WA 98226
NAICS code 238330
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bellingham
In the Bellingham area, 7 businesses in the "Flooring Contractors" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $23,999 (compared to this company's $46,900).
Similar Nearby Businesses Who Received PPP Funding:
Kulshan Tile And Marble Inc
Junior Flooring & Construction LLC
Precision Floor Covering Inc
San Juan Decorators
Industry PPP Comparison Statistics
Nationwide, 28,132 businesses in the "Flooring Contractors" industry received a total of $1.48B 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 5 employees, 17% lower than Fairhaven Floors LLC's reported 6 employees, and received an average PPP loan of $52,734, 12% higher than this company's loan of $46,900.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!