PPP Loan Data — Global Vessel And Tank, LLC, Lafayette, LA
Global Vessel And Tank, LLC is a limited liability company (LLC) located at 117 Liberty Ave in Lafayette, Louisiana that received a Coronavirus-related PPP loan from the SBA of $2,552,500.00 in April, 2020.
$ PPP Loan Information
Lender:HANCOCK WHITNEY BANK
Global Vessel And Tank, LLC in Lafayette, LA received a Paycheck Protection Loan of $2.55M through HANCOCK WHITNEY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Global Vessel And Tank, LLC's total 2019 payroll expenses were approximately $12.25M in order to qualify for the PPP loan amount received.
Based on their reported 223 jobs retained, this equals an estimated average yearly compensation of $54,942 per employee1.
Business Information - Global Vessel And Tank, LLC in Lafayette, LA
117 Liberty Ave
Lafayette, LA 70508
Metal Tank (Heavy Gauge) Manufacturing (NAICS code 332420)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: LA-03
Industry PPP Comparison Statistics
Nationwide, 294 businesses in the "Metal Tank (Heavy Gauge) Manufacturing" industry received a total of $166,175,006.00 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 39 employees, 83% lower than Global Vessel And Tank, LLC's reported 223 employees, and received an average PPP loan of $565,221, 78% lower than this company's loan of $2.55M.
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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