PPP Loan Data — Kauai Island Utility Cooperative, Lihue, HI
Kauai Island Utility Cooperative is a cooperative located at 4463 Pahee St, Suite 1 in Lihue, Hawaii that received a Coronavirus-related PPP loan from the SBA of $2,881,250.00 in April, 2020.
$ PPP Loan Information
Lender:BANK OF HAWAII
Kauai Island Utility Cooperative received a Paycheck Protection Loan of $2.88M through BANK OF HAWAII, which was approved in April, 2020.
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 138 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.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 138.
Based on standard PPP eligibility rules, Kauai Island Utility Cooperative's total 2019 payroll expenses were approximately $13.83M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 138 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Kauai Island Utility Cooperative in Lihue, HI
4463 Pahee St, Suite 1
Lihue, HI 96766
Fossil Fuel Electric Power Generation (NAICS code 221112)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: HI-02
Industry PPP Comparison Statistics
Nationwide, 78 businesses in the "Fossil Fuel Electric Power Generation" industry received a total of $29,209,385.00 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 20 employees, 86% lower than Kauai Island Utility Cooperative's reported 138 employees, and received an average PPP loan of $374,479, 87% lower than this company's loan of $2.88M.
FederalPay's PPP Information Policy
Footnotes & Information
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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