PPP Loan Data — Newway Forming Inc, Lynnwood, WA
Newway Forming Inc
Location: Lynnwood, WATweet This • Search All PPP Data
Newway Forming Inc is a corporation located at 1133 164th St Ste 206 in Lynnwood, Washington that received a Coronavirus-related PPP loan from the SBA of $3,000,000.00 in April, 2020.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Newway Forming Inc received a Paycheck Protection Loan of $3M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Newway Forming Inc's total 2019 payroll expenses were approximately $14.4M in order to qualify for the PPP loan amount received.
Based on their reported 146 jobs retained, this equals an estimated average yearly compensation of $98,630 per employee1.
Business Information - Newway Forming Inc in Lynnwood, WA
1133 164th St Ste 206
Lynnwood, WA 98087
New Single-Family Housing Construction (except For-Sale Builders) (NAICS code 236115)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: WA-02
Similar Companies near Lynnwood
In the Lynnwood area, 9 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 146) and received an average PPP loan of $415,732 (compared to this company's $3M).
Similar Nearby Businesses Who Received PPP Funding:
North Seattle Drywall & Painting Corporation
Adair Enterprises, LLC
Adamant Homes, LLC
Luks Construction LLC
Neko Branch LLC
Brodrick Construction, Inc.
Northwest Roofing Systems Inc.
American Railworks, LLC
Industry PPP Comparison Statistics
Nationwide, 64,726 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $3,790,773,096.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 97% lower than Newway Forming Inc's reported 146 employees, and received an average PPP loan of $58,566, 98% lower than this company's loan of $3M.
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