PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Puffin Boats, LLC, Hampden, ME

SBA PPP loan data, payroll data, and salaries for Puffin Boats, LLC
ME

Puffin Boats, LLC

Entity: Limited Liability Company (LLC)

Industry: Boat Dealers

Location: Hampden, ME

Search All PPP Data

Puffin Boats, LLC is a limited liability company (LLC) located at 581 Main Road North in Hampden, Maine that received a Coronavirus-related PPP loan from the SBA of $46,177.00 in April, 2020.

$ PPP Loan Information
Loan #7078067003

Loan Size:

$46,177

Jobs Retained:

5

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

Machias Savings Bank

Puffin Boats, LLC in Hampden, ME received a Paycheck Protection Loan of $46,177 through Machias Savings 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 February, 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, Puffin Boats, LLC's 2019 payroll expenses are estimated to be at least $221,650.

Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,330 per employee1

Reported PPP Proceed Usage:

On the PPP application, Puffin Boats, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $46,177

Business Information - Puffin Boats, LLC in Hampden, ME

Puffin Boats, LLC
581 Main Road North
Hampden, ME 4444

Business Industry:
Boat Dealers
NAICS code 441222

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: Rural

Penobscot County, ME — SBA Office 0172 — Congressional District: ME-02

Similar Companies near Hampden

In the Hampden area, 2 businesses in the "Boat Dealers" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 5) and received an average PPP loan of $190,221 (compared to this company's $46,177).

Similar Nearby Businesses Who Received PPP Funding:

Hamlins Marina Hampden
Hampden, ME

$334,265 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 3,914 businesses in the "Boat Dealers" industry received a total of $339.91M 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 9 employees, 80% higher than Puffin Boats, LLC's reported 5 employees, and received an average PPP loan of $86,846, 88% higher than this company's loan of $46,177.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/puffin-boats-llc-hampden-me