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PPP Loan Data — Savard Marine Services, Inc, Baton Rouge, LA

SBA PPP loan data, payroll data, and salaries for Savard Marine Services, Inc
LA

Savard Marine Services, Inc

Entity: Corporation

Industry: Temporary Help Services

Location: Baton Rouge, LA

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Savard Marine Services, Inc is a corporation located at 1772 Wooddale Boulevard in Baton Rouge, Louisiana that received a Coronavirus-related PPP loan from the SBA of $3,750,000.00 in April, 2020.

The company has reported itself as a White owned business, and employed at least 400 people during the applicable loan loan period.

$ PPP Loan Information
Loan #2192687209

Loan Size:

$3.75M

Jobs Retained:

400

Loan Approved:

2020-04-15

Loan Status:

Paid in Full or Forgiven

Lender:

Transportation Alliance Bank, Inc. d/b/a TAB Bank, Inc.

Savard Marine Services, Inc in Baton Rouge, LA received a Paycheck Protection Loan of $3.75M through Transportation Alliance Bank, Inc. d/b/a TAB Bank, Inc., 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 June, 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, Savard Marine Services, Inc's 2019 payroll expenses are estimated to be at least $18M.

Based on their reported 400 jobs retained, this equals an estimated average yearly compensation of $45,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Savard Marine Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,500,000
  • Utilities: $50,000
  • Rent: $200,000
Because the loan received by Savard Marine Services, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Savard Marine Services, Inc in Baton Rouge, LA

Savard Marine Services, Inc
1772 Wooddale Boulevard
Baton Rouge, LA 70806

Business Industry:
Temporary Help Services
NAICS code 561320

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

East Baton Rouge County, LA — SBA Office 0679 — Congressional District: LA-02

Similar Companies near Baton Rouge

In the Baton Rouge area, 2 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 204 employees (compared to this company's 400) and received an average PPP loan of $1,898,438 (compared to this company's $3.75M).

Similar Nearby Businesses Who Received PPP Funding:

All In Management Services LLC
Baton Rouge, LA

$46,875 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 8,904 businesses in the "Temporary Help Services" industry received a total of $3.65B 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 51 employees, 87% lower than Savard Marine Services, Inc's reported 400 employees, and received an average PPP loan of $409,706, 89% lower than this company's loan of $3.75M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/savard-marine-services-inc-baton-rouge-la