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PPP Loan Data — Fresh Consulting, Inc, Bellevue, WA

SBA PPP loan data, payroll data, and salaries for Fresh Consulting, Inc
WA

Fresh Consulting, Inc

Entity: Corporation

Industry: Computer Systems Design Services

Location: Bellevue, WA

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Fresh Consulting, Inc is a corporation located at 14725 36th St Suite 300 in Bellevue, Washington that received a Coronavirus-related PPP loan from the SBA of $5,621,914.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 311 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4261857303

Loan Size:

$5.62M

Jobs Retained:

311

Loan Approved:

2020-04-29

Loan Status:

Paid in Full or Forgiven

Lender:

Commencement Bank

Fresh Consulting, Inc in Bellevue, WA received a Paycheck Protection Loan of $5.62M through Commencement 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 August, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Fresh Consulting, Inc's 2019 payroll expenses are estimated to be at least $26.99M.

Based on their reported 311 jobs retained, this equals an estimated average yearly compensation of $86,769 per employee1

Reported PPP Proceed Usage:

On the PPP application, Fresh Consulting, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $5,621,914
Because the loan received by Fresh Consulting, Inc 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 - Fresh Consulting, Inc in Bellevue, WA

Fresh Consulting, Inc
14725 36th St Suite 300
Bellevue, WA 98006

Business Industry:
Computer Systems Design Services
NAICS code 541512

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

King County, WA — SBA Office 1013 — Congressional District: WA-09

Similar Companies near Bellevue

In the Bellevue area, 36 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 311) and received an average PPP loan of $315,274 (compared to this company's $5.62M).

Industry PPP Comparison Statistics

Nationwide, 30,865 businesses in the "Computer Systems Design Services" industry received a total of $4.34B 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 10 employees, 97% lower than Fresh Consulting, Inc's reported 311 employees, and received an average PPP loan of $140,681, 97% lower than this company's loan of $5.62M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/fresh-consulting-inc-bellevue-wa