PPP Loan Data — Salmon Group Inc, Washington, DC
Salmon Group Inc is a subchapter s corporation located at 555 11th St Nw in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $1,605,800.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 112 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Salmon Group Inc in Washington, DC received a Paycheck Protection Loan of $1.61M through PNC 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 February, 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, Salmon Group Inc's 2019 payroll expenses are estimated to be at least $7.71M.
Based on their reported 112 jobs retained, this equals an estimated average yearly compensation of $68,820 per employee1
Reported PPP Proceed Usage:
On the PPP application, Salmon Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,605,800
Business Information - Salmon Group Inc in Washington, DC
555 11th St Nw
Washington, DC 20004
Other Management Consulting Services
NAICS code 541618
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Washington
In the Washington area, 79 businesses in the "Other Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 112) and received an average PPP loan of $138,062 (compared to this company's $1.61M).
Similar Nearby Businesses Who Received PPP Funding:
QED Associates LLC
Erickson And Co Inc
Chaise Management Group LLC
Kiley & Associates LLC
Prime Label Consultants, Inc
CM Solutions, LLC
Industry PPP Comparison Statistics
Nationwide, 84,014 businesses in the "Other Management Consulting Services" industry received a total of $3.74B 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 4 employees, 96% lower than Salmon Group Inc's reported 112 employees, and received an average PPP loan of $44,524, 97% lower than this company's loan of $1.61M.
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Footnotes & Information
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