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PPP Loan Data — REC Marine Logistics LLC,
Raceland, LA
REC Marine Logistics LLC
Entity: Limited Liability Company (LLC)
Industry: Deep Sea Passenger Transportation
Location: Raceland, LA
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REC Marine Logistics LLC is a limited liability company (LLC) located at 4535 Highway 308 in Raceland, Louisiana that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 236 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4335038304
Loan Size:
Jobs Retained:
236Loan Approved:
2021-01-23Loan Status:
Ongoing LoanLender:
United Community BankREC Marine Logistics LLC in Raceland, LA received a Paycheck Protection Loan of $2M through United Community Bank, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 MoreUnderstanding 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 MoreBased 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, REC Marine Logistics LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 236 jobs retained, this equals an estimated average yearly compensation of $40,678 per employee1
Reported PPP Proceed Usage:
On the PPP application, REC Marine Logistics LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - REC Marine Logistics LLC in Raceland, LA
4535 Highway 308
Raceland, LA 70394
Business Industry:
Deep Sea Passenger Transportation
NAICS code 483112
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 2 other businesses that received a PPP loan registered to the same address as REC Marine Logistics LLC.
G.o.l. Shooting, LLC
Sporting and Recreational Goods and Supplies Merchant Wholesalers
GOL LLC
Support Activities for Oil and Gas Operations
Industry PPP Comparison Statistics
Nationwide, 225 businesses in the "Deep Sea Passenger Transportation" industry received a total of $17.86M 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, 97% lower than REC Marine Logistics LLC's reported 236 employees, and received an average PPP loan of $79,384, 96% lower than this company's loan of $2M.
REC Marine Logistics, LLC
Entity: Limited Liability Company (LLC)
Industry: Deep Sea Freight Transportation
Location: Raceland, LA
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REC Marine Logistics, LLC is a limited liability company (LLC) located at 4535 Hwy 308 in Raceland, Louisiana that received a Coronavirus-related PPP loan from the SBA of $3,046,306.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 268 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9184037008
Loan Size:
Jobs Retained:
268Loan Approved:
2020-04-09Loan Status:
Paid in Full or ForgivenLender:
United Community BankREC Marine Logistics, LLC in Raceland, LA received a Paycheck Protection Loan of $3.05M through United Community 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 July, 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 MoreUnderstanding 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 MoreBased 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, REC Marine Logistics, LLC's 2019 payroll expenses are estimated to be at least $14.62M.
Based on their reported 268 jobs retained, this equals an estimated average yearly compensation of $54,561 per employee1
Reported PPP Proceed Usage:
On the PPP application, REC Marine Logistics, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,046,306
Business Information - REC Marine Logistics, LLC in Raceland, LA
4535 Hwy 308
Raceland, LA 70394
Business Industry:
Deep Sea Freight Transportation
NAICS code 483111
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Raceland
In the Raceland area, 4 businesses in the "Deep Sea Freight Transportation" industry received a PPP loan. These local businesses reported an average of 109 employees (compared to this company's 268) and received an average PPP loan of $1,400,877 (compared to this company's $3.05M).
Similar Nearby Businesses Who Received PPP Funding:
Adriatic Marine LLC
Raceland, LA
Jason J Adams
Raceland, LA
Industry PPP Comparison Statistics
Nationwide, 688 businesses in the "Deep Sea Freight Transportation" industry received a total of $97.78M 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 11 employees, 96% lower than REC Marine Logistics, LLC's reported 268 employees, and received an average PPP loan of $142,121, 95% lower than this company's loan of $3.05M.
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.
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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