PPP Loan Data — Oceanit Laboratories, Inc, Honolulu, HI
Oceanit Laboratories, Inc is a corporation located at 828 Fort Street Mall in Honolulu, Hawaii that received a Coronavirus-related PPP loan from the SBA of $1,628,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Hawaiian Bank
Oceanit Laboratories, Inc in Honolulu, HI received a Paycheck Protection Loan of $1.63M through First Hawaiian 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, Oceanit Laboratories, Inc's 2019 payroll expenses are estimated to be at least $7.81M.
Based on their reported 91 jobs retained, this equals an estimated average yearly compensation of $85,873 per employee1
Reported PPP Proceed Usage:
On the PPP application, Oceanit Laboratories, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,628,000
Business Information - Oceanit Laboratories, Inc in Honolulu, HI
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
PPP recipients in this industry report an average of 0 employees, 100% lower than Oceanit Laboratories, Inc's reported 91 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $1.63M.
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Footnotes & Information
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