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PPP Loan Data — Picard Okano Works LLC, Seattle, WA

SBA PPP loan data, payroll data, and salaries for Picard Okano Works LLC
WA

Picard Okano Works LLC

Entity: Limited Liability Company (LLC)

Industry: Commercial and Institutional Building Construction

Location: Seattle, WA

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Picard Okano Works LLC is a limited liability company (LLC) located at Suite 108 815 Seattle Blvd S in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $15,995.00 in May, 2020.

$ PPP Loan Information
Loan #8670747304

Loan Size:

$15,995

Jobs Retained:

3

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Picard Okano Works LLC in Seattle, WA received a Paycheck Protection Loan of $15,995 through Bank of America, National Association, which was approved in May, 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Picard Okano Works LLC's 2019 payroll expenses are estimated to be at least $76,776.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $25,592 per employee1

Reported PPP Proceed Usage:

On the PPP application, Picard Okano Works LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $15,995

Business Information - Picard Okano Works LLC in Seattle, WA

Picard Okano Works LLC
Suite 108 815 Seattle Blvd S
Seattle, WA 98134

Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

King County, WA — SBA Office 1013 — Congressional District: WA-07

Similar Companies near Seattle

In the Seattle area, 24 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 3) and received an average PPP loan of $493,856 (compared to this company's $15,995).

Industry PPP Comparison Statistics

Nationwide, 78,873 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.41B 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 12 employees, 300% higher than Picard Okano Works LLC's reported 3 employees, and received an average PPP loan of $157,325, 884% higher than this company's loan of $15,995.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/picard-okano-works-llc-seattle-wa