PPP Loan Data — Professional Credit Service, Vancouver, WA
Professional Credit Service is a corporation located at 12204 Se Mill Plain Blvd Suite 1 in Vancouver, Washington that received a Coronavirus-related PPP loan from the SBA of $1,908,776.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 128 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Columbia State Bank
Professional Credit Service in Vancouver, WA received a Paycheck Protection Loan of $1.91M through Columbia State Bank, which was approved in April, 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
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, Professional Credit Service's 2019 payroll expenses are estimated to be at least $9.16M.
Based on their reported 128 jobs retained, this equals an estimated average yearly compensation of $71,579 per employee1
Reported PPP Proceed Usage:
On the PPP application, Professional Credit Service reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,908,776
Business Information - Professional Credit Service in Vancouver, WA
12204 Se Mill Plain Blvd Suite 1
Vancouver, WA 98684
NAICS code 561440
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,910 businesses in the "Collection Agencies" industry received a total of $542.19M 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 19 employees, 85% lower than Professional Credit Service's reported 128 employees, and received an average PPP loan of $186,320, 90% lower than this company's loan of $1.91M.
FederalPay's PPP Information Policy
Footnotes & Information
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