Sea Watch International, LTD in Easton, MD - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Sea Watch International, LTD, Easton, MD

Sea Watch International, LTD

Entity: Subchapter S Corporation

Industry: Seafood Product Preparation and Packaging

Location: 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

Loan Size:

$5.03M

Jobs Retained:

500

Loan Approved:

2020-04-13

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.

Because the loan received by Sea Watch International, LTD 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 - Sea Watch International, LTD in Easton, MD

Sea Watch International, LTD
8978 Glebe Park Drive
Easton, MD 21601

Business Industry

Seafood Product Preparation and Packaging (NAICS code 311710)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional 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.

Search FederalPay's Full PPP Loan Database

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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