PPP Loan Data — REC Solar Grade Silicon LLC, Moses Lake, WA
REC Solar Grade Silicon LLC is a limited liability company (LLC) located at 332 Road N Ne in Moses Lake, Washington that received a Coronavirus-related PPP loan from the SBA of $3,826,400.00 in April, 2020.
$ PPP Loan Information
Lender:STOCKMAN BANK OF MONTANA
REC Solar Grade Silicon LLC received a Paycheck Protection Loan of $3.83M through STOCKMAN BANK OF MONTANA, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 78 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 184.
Based on standard PPP eligibility rules, REC Solar Grade Silicon LLC's total 2019 payroll expenses were approximately $18.37M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 78 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - REC Solar Grade Silicon LLC in Moses Lake, WA
332 Road N Ne
Moses Lake, WA 98837
Semiconductor and Related Device Manufacturing (NAICS code 334413)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: WA-04
Industry PPP Comparison Statistics
Nationwide, 716 businesses in the "Semiconductor and Related Device Manufacturing" industry received a total of $262,536,419.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 19 employees, 76% lower than REC Solar Grade Silicon LLC's reported 78 employees, and received an average PPP loan of $366,671, 90% lower than this company's loan of $3.83M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
Have FederalPay.org's open data tools been valuable? Consider donating!