PPP Loan Data — Hatteras/Cabo Yachts LLC, New Bern, NC
Hatteras/Cabo Yachts LLC is a limited liability company (LLC) located at 110 N Glenburnie Rd in New Bern, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First-Citizens Bank & Trust Company
Hatteras/Cabo Yachts LLC in New Bern, NC received a Paycheck Protection Loan of $2M through First-Citizens Bank & Trust Company, which was approved in January, 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, Hatteras/Cabo Yachts LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 198 jobs retained, this equals an estimated average yearly compensation of $48,485 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hatteras/Cabo Yachts LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,996
- Utilities: $1
Business Information - Hatteras/Cabo Yachts LLC in New Bern, NC
110 N Glenburnie Rd
New Bern, NC 28560
Ship Building and Repairing
NAICS code 336611
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near New Bern
In the New Bern area, 2 businesses in the "Ship Building and Repairing" industry received a PPP loan. These local businesses reported an average of 274 employees (compared to this company's 198) and received an average PPP loan of $3,268,250 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Hatteras Cabo Yachts, LLC
New Bern, NC
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, 87% lower than Hatteras/Cabo Yachts LLC's reported 198 employees, and received an average PPP loan of $316,151, 84% lower than this company's loan of $2M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!