PPP Loan Data — Lucas Engineering & Management Services, Inc, Richland, WA
Lucas Engineering & Management Services, Inc is a subchapter s corporation located at 3160 George Washington Way in Richland, Washington that received a Coronavirus-related PPP loan from the SBA of $1,589,400.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 78 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Community First Bank
Lucas Engineering & Management Services, Inc in Richland, WA received a Paycheck Protection Loan of $1.59M through Community First Bank, 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 May, 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, Lucas Engineering & Management Services, Inc's 2019 payroll expenses are estimated to be at least $7.63M.
Based on their reported 78 jobs retained, this equals an estimated average yearly compensation of $97,809 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lucas Engineering & Management Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,589,400
Business Information - Lucas Engineering & Management Services, Inc in Richland, WA
3160 George Washington Way
Richland, WA 99354
NAICS code 541330
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Richland
In the Richland area, 15 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 78) and received an average PPP loan of $403,738 (compared to this company's $1.59M).
Similar Nearby Businesses Who Received PPP Funding:
Federal Engineers & Constructors Inc
BNL Technical Services LLC
BNL Technical Services, LLC
Federal Engineers And Constructors Fe&C
Vista Precision Solutions Inc
Talos Engineering Incorporated
RC Construction Services Inc
Spink Engineering, LLC
Industry PPP Comparison Statistics
Nationwide, 47,152 businesses in the "Engineering Services" industry received a total of $9.19B 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 13 employees, 83% lower than Lucas Engineering & Management Services, Inc's reported 78 employees, and received an average PPP loan of $194,873, 88% lower than this company's loan of $1.59M.
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Footnotes & Information
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