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PPP Loan Data — Innersea Discoveries Alaska Inc,
Seattle, WA
Innersea Discoveries Alaska Inc
Entity: Corporation
Industry: Coastal and Great Lakes Passenger Transportation
Location: Seattle, WA
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Innersea Discoveries Alaska Inc is a corporation located at 3826 18th Ave W in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as a White male owned business, and employed at least 287 people during the applicable loan loan period.
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PPP Loan Information
Loan #2742308409
Loan Size:
Jobs Retained:
287Loan Approved:
2021-02-04Loan Status:
Paid in Full or ForgivenLender:
Coastal Community BankInnersea Discoveries Alaska Inc in Seattle, WA received a Paycheck Protection Loan of $2M through Coastal Community Bank, which was approved in February, 2021.
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, 2022.
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 MoreUnderstanding 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 MoreBased 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, Innersea Discoveries Alaska Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 287 jobs retained, this equals an estimated average yearly compensation of $33,449 per employee1
Reported PPP Proceed Usage:
On the PPP application, Innersea Discoveries Alaska Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Innersea Discoveries Alaska Inc in Seattle, WA
3826 18th Ave W
Seattle, WA 98119
Business Industry:
Coastal and Great Lakes Passenger Transportation
NAICS code 483114
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 306 businesses in the "Coastal and Great Lakes Passenger Transportation" industry received a total of $46.85M 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 14 employees, 95% lower than Innersea Discoveries Alaska Inc's reported 287 employees, and received an average PPP loan of $153,120, 92% lower than this company's loan of $2M.
Innersea Discoveries Alaska Inc
Entity: Corporation
Industry: Coastal and Great Lakes Passenger Transportation
Location: Seattle, WA
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•
Search All PPP Data
Innersea Discoveries Alaska Inc is a corporation located at 3826 18th Ave W in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $4,796,728.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 208 people during the applicable loan loan period.
$
PPP Loan Information
Loan #3825647105
Loan Size:
Jobs Retained:
208Loan Approved:
2020-04-12Loan Status:
Paid in Full or ForgivenLender:
KeyBank National AssociationInnersea Discoveries Alaska Inc in Seattle, WA received a Paycheck Protection Loan of $4.8M through KeyBank National Association, 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 June, 2022.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 208 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 230. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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 MoreUnderstanding 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 MoreBased 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, Innersea Discoveries Alaska Inc's 2019 payroll expenses are estimated to be at least $23.02M (not accounting for salary amounts > $100k).
Because the 208 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Innersea Discoveries Alaska Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,796,728
Business Information - Innersea Discoveries Alaska Inc in Seattle, WA
3826 18th Ave W
Seattle, WA 98119
Business Industry:
Coastal and Great Lakes Passenger Transportation
NAICS code 483114
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 306 businesses in the "Coastal and Great Lakes Passenger Transportation" industry received a total of $46.85M 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 14 employees, 93% lower than Innersea Discoveries Alaska Inc's reported 208 employees, and received an average PPP loan of $153,120, 97% lower than this company's loan of $4.8M.
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.
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.
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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