PPP Loan Data — Lakoda Inc, Newman Lake, WA
Lakoda Inc is a corporation located at 23020 Bearz Lane in Newman Lake, Washington that received a Coronavirus-related PPP loan from the SBA of $46,667.00 in July, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Lakoda Inc in Newman Lake, WA received a Paycheck Protection Loan of $46,667 through Bank of America, National Association, which was approved in July, 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, Lakoda Inc's 2019 payroll expenses are estimated to be at least $224,002.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,667 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lakoda Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,667
Business Information - Lakoda Inc in Newman Lake, WA
23020 Bearz Lane
Newman Lake, WA 99025
All Other Plastics Product Manufacturing
NAICS code 326199
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,013 businesses in the "All Other Plastics Product Manufacturing" industry received a total of $1.67B 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 34 employees, 1033% higher than Lakoda Inc's reported 3 employees, and received an average PPP loan of $333,733, 615% higher than this company's loan of $46,667.
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Footnotes & Information
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