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PPP Loan Data — Honolulu Freight Service, Seattle, WA

SBA PPP loan data, payroll data, and salaries for Honolulu Freight Service
WA

Honolulu Freight Service

Entity: Corporation

Industry: Marine Cargo Handling

Location: Seattle, WA

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Honolulu Freight Service is a corporation located at 2326 Airport Way S in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $2,874,978.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 285 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.87M

Jobs Retained:

285

Loan Approved:

2020-04-14

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Honolulu Freight Service in Seattle, WA received a Paycheck Protection Loan of $2.87M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Honolulu Freight Service's total 2019 payroll expenses were approximately $13.8M in order to qualify for the PPP loan amount received.

Based on their reported 285 jobs retained, this equals an estimated average yearly compensation of $48,421 per employee1.

Because the loan received by Honolulu Freight Service 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 - Honolulu Freight Service in Seattle, WA

Honolulu Freight Service
2326 Airport Way S
Seattle, WA 98134

Business Industry

Marine Cargo Handling (NAICS code 488320)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: WA-07

Industry PPP Comparison Statistics

Nationwide, 259 businesses in the "Marine Cargo Handling" industry received a total of $85,973,778.00 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 27 employees, 91% lower than Honolulu Freight Service's reported 285 employees, and received an average PPP loan of $331,945, 88% lower than this company's loan of $2.87M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/honolulu-freight-service-seattle-wa