PPP Loan Data — Hood Canal Oyster Co., Inc, Silverdale, WA
Hood Canal Oyster Co., Inc is a subchapter s corporation located at Po Box 2836 in Silverdale, Washington that received a Coronavirus-related PPP loan from the SBA of $25,080.00 in May, 2020.
The company has reported itself as a Black or african american male veteran owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Hood Canal Oyster Co., Inc in Silverdale, WA received a Paycheck Protection Loan of $25,080 through Kitsap CU, which was approved in May, 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 April, 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, Hood Canal Oyster Co., Inc's 2019 payroll expenses are estimated to be at least $120,384.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,077 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hood Canal Oyster Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,080
Business Information - Hood Canal Oyster Co., Inc in Silverdale, WA
Po Box 2836
Silverdale, WA 98383
Fish and Seafood Merchant Wholesalers
NAICS code 424460
Business Owner Demographics
Race: Black or African American
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Silverdale
In the Silverdale area, 2 businesses in the "Fish and Seafood Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 5) and received an average PPP loan of $16,189 (compared to this company's $25,080).
Similar Nearby Businesses Who Received PPP Funding:
Cape George Seafoods
Industry PPP Comparison Statistics
Nationwide, 3,281 businesses in the "Fish and Seafood Merchant Wholesalers" industry received a total of $360.62M 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 12 employees, 140% higher than Hood Canal Oyster Co., Inc's reported 5 employees, and received an average PPP loan of $109,912, 338% higher than this company's loan of $25,080.
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Footnotes & Information
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