PPP Loan Data — Northern Laboratory, Burien, WA
Northern Laboratory is a subchapter s corporation located at 138 Sw 154th St in Burien, Washington that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in February, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Readycap Lending, LLC
Northern Laboratory in Burien, WA received a Paycheck Protection Loan of $25,000 through Readycap Lending, LLC, which was approved in February, 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, Northern Laboratory's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Northern Laboratory reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,997
- Utilities: $1
Business Information - Northern Laboratory in Burien, WA
138 Sw 154th St
Burien, WA 98166
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Burien
In the Burien area, 7 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 3) and received an average PPP loan of $133,205 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Taylor Made Concrete LLC
Sound Roofing Systems Inc
Robbins And Company Housemoving, Inc
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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 8 employees, 167% higher than Northern Laboratory's reported 3 employees, and received an average PPP loan of $86,076, 244% higher than this company's loan of $25,000.
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Footnotes & Information
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