PPP Loan Data — Morgans Of Washington, Quincy, WA
Morgans Of Washington
Entity: Subchapter S Corporation
Location: Quincy, WATweet This • Search All PPP Data
Morgans Of Washington is a subchapter s corporation located at 1801 F St Sw in Quincy, Washington that received a Coronavirus-related PPP loan from the SBA of $2,126,900.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 205 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Washington Trust Bank
Morgans Of Washington in Quincy, WA received a Paycheck Protection Loan of $2.13M through Washington Trust Bank, which was approved in April, 2020.
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, Morgans Of Washington's 2019 payroll expenses are estimated to be at least $10.21M.
Based on their reported 205 jobs retained, this equals an estimated average yearly compensation of $49,801 per employee1
Reported PPP Proceed Usage:
On the PPP application, Morgans Of Washington reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,126,900
Business Information - Morgans Of Washington in Quincy, WA
1801 F St Sw
Quincy, WA 98848
Postharvest Crop Activities (except Cotton Ginning)
NAICS code 115114
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Quincy
In the Quincy area, 7 businesses in the "Postharvest Crop Activities (except Cotton Ginning)" industry received a PPP loan. These local businesses reported an average of 64 employees (compared to this company's 205) and received an average PPP loan of $579,704 (compared to this company's $2.13M).
Similar Nearby Businesses Who Received PPP Funding:
Blakal Packing, Inc
Kapa Seed Inc
Omlin Grain LLC
Quincy Fresh Fruit LLC
Central Bean Co., Inc
Peshastin HI-Up Growers
Industry PPP Comparison Statistics
Nationwide, 1,324 businesses in the "Postharvest Crop Activities (except Cotton Ginning)" industry received a total of $297.43M 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 29 employees, 86% lower than Morgans Of Washington's reported 205 employees, and received an average PPP loan of $224,649, 89% lower than this company's loan of $2.13M.
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