PPP Loan Data — Resolution Bioscience, Inc, Kirkland, WA
Resolution Bioscience, Inc
Location: Kirkland, WATweet This • Search All PPP Data
Resolution Bioscience, Inc is a corporation located at 550 Kirkland Way in Kirkland, Washington that received a Coronavirus-related PPP loan from the SBA of $1,573,645.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:MUFG Union Bank, National Association
Resolution Bioscience, Inc in Kirkland, WA received a Paycheck Protection Loan of $1.57M through MUFG Union Bank, National Association, 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 December, 2020.
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, Resolution Bioscience, Inc's 2019 payroll expenses are estimated to be at least $7.55M.
Based on their reported 81 jobs retained, this equals an estimated average yearly compensation of $93,253 per employee1
Reported PPP Proceed Usage:
On the PPP application, Resolution Bioscience, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,573,645
Business Information - Resolution Bioscience, Inc in Kirkland, WA
550 Kirkland Way
Kirkland, WA 98033
Research and Development in Biotechnology (except Nanobiotechnology)
NAICS code 541714
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Kirkland
In the Kirkland area, 4 businesses in the "Research and Development in Biotechnology (except Nanobiotechnology)" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 81) and received an average PPP loan of $752,226 (compared to this company's $1.57M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 3,364 businesses in the "Research and Development in Biotechnology (except Nanobiotechnology)" industry received a total of $568.09M 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, 85% lower than Resolution Bioscience, Inc's reported 81 employees, and received an average PPP loan of $168,873, 89% lower than this company's loan of $1.57M.
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