PPP Loan Data — Farestart, Seattle, WA
Farestart is a professional association located at 700 Virginia Street in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $2,467,418.00 in April, 2020.
$ PPP Loan Information
Lender:U.S. BANK, NATIONAL ASSOCIATION
Farestart in Seattle, WA received a Paycheck Protection Loan of $2.47M through U.S. BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Farestart's total 2019 payroll expenses were approximately $11.84M in order to qualify for the PPP loan amount received.
Based on their reported 204 jobs retained, this equals an estimated average yearly compensation of $58,057 per employee1.
Business Information - Farestart in Seattle, WA
700 Virginia Street
Seattle, WA 98101
Other Individual and Family Services (NAICS code 624190)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: WA-07
Similar Companies near Seattle
In the Seattle area, 12 businesses in the "Other Individual and Family Services" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 204) and received an average PPP loan of $271,883 (compared to this company's $2.47M).
Similar Nearby Businesses Who Received PPP Funding:
Dress For Success Seattle
Cascadian Counseling PLLC
Golden West Counseling
Neighbors & Associates LLC
SLC Wellness LLC
NW Counseling Center PLLC
Lauren Beck Counseling, LLC
Northwest Sarcoma Foundation
Industry PPP Comparison Statistics
Nationwide, 15,794 businesses in the "Other Individual and Family Services" industry received a total of $2,302,146,944.00 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 17 employees, 92% lower than Farestart's reported 204 employees, and received an average PPP loan of $145,761, 94% lower than this company's loan of $2.47M.
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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