PPP Loan Data — Sea Watch International, LTD, Easton, MD
Sea Watch International, LTD is a subchapter s corporation located at 8978 Glebe Park Drive in Easton, Maryland that received a Coronavirus-related PPP loan from the SBA of $5,034,209.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FIRST PIONEER FARM CREDIT, ACA
Sea Watch International, LTD in Easton, MD received a Paycheck Protection Loan of $5.03M through FIRST PIONEER FARM CREDIT, ACA, which was approved in April, 2020.
Based on standard PPP eligibility rules, Sea Watch International, LTD's total 2019 payroll expenses were approximately $24.16M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $48,328 per employee1.
Business Information - Sea Watch International, LTD in Easton, MD
8978 Glebe Park Drive
Easton, MD 21601
Seafood Product Preparation and Packaging (NAICS code 311710)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: MD-01
Industry PPP Comparison Statistics
Nationwide, 476 businesses in the "Seafood Product Preparation and Packaging" industry received a total of $141,508,217.00 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 28 employees, 94% lower than Sea Watch International, LTD's reported 500 employees, and received an average PPP loan of $297,286, 94% lower than this company's loan of $5.03M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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