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PPP Loan Data — Seattle Soccer LLC,
Seattle, WA
Seattle Soccer LLC
Entity: Limited Liability Company (LLC)
Industry: Sports Teams and Clubs
Location: Seattle, WA
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Seattle Soccer LLC is a limited liability company (LLC) located at 159 S Jackson St Ste 200 in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2021.
$
PPP Loan Information
Loan #3366298909
Loan Size:
Jobs Retained:
133Loan Approved:
2021-04-28Loan Status:
Ongoing LoanLender:
Washington Federal Bank, National AssociationSeattle Soccer LLC in Seattle, WA received a Paycheck Protection Loan of $2M through Washington Federal Bank, National Association, which was approved in April, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 MoreUnderstanding 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 MoreBased 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, Seattle Soccer LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 133 jobs retained, this equals an estimated average yearly compensation of $72,180 per employee1
Reported PPP Proceed Usage:
On the PPP application, Seattle Soccer LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Seattle Soccer LLC in Seattle, WA
159 S Jackson St Ste 200
Seattle, WA 98104
Business Industry:
Sports Teams and Clubs
NAICS code 711211
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Seattle
In the Seattle area, 5 businesses in the "Sports Teams and Clubs" industry received a PPP loan. These local businesses reported an average of 77 employees (compared to this company's 133) and received an average PPP loan of $979,667 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Washington Men's Gymnastics Foundation
Seattle, WA
Global Soccer Networks LLC
Seattle, WA
Fenix Experience LLC
Seattle, WA
Industry PPP Comparison Statistics
Nationwide, 6,856 businesses in the "Sports Teams and Clubs" industry received a total of $409.71M 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 10 employees, 92% lower than Seattle Soccer LLC's reported 133 employees, and received an average PPP loan of $59,759, 97% lower than this company's loan of $2M.
Seattle Soccer LLC
Entity: Limited Liability Company (LLC)
Industry: Sports Teams and Clubs
Location: Seattle, WA
Tweet This
•
Search All PPP Data
Seattle Soccer LLC is a limited liability company (LLC) located at 159 S Jackson St Suite 200 in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $2,781,408.00 in April, 2020.
$
PPP Loan Information
Loan #8426377004
Loan Size:
Jobs Retained:
238Loan Approved:
2020-04-08Loan Status:
Paid in Full or ForgivenLender:
Washington Federal Bank, National AssociationSeattle Soccer LLC in Seattle, WA received a Paycheck Protection Loan of $2.78M through Washington Federal 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 July, 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 MoreUnderstanding 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 MoreBased 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, Seattle Soccer LLC's 2019 payroll expenses are estimated to be at least $13.35M.
Based on their reported 238 jobs retained, this equals an estimated average yearly compensation of $56,096 per employee1
Reported PPP Proceed Usage:
On the PPP application, Seattle Soccer LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,086,058
- Utilities: $695,350
Business Information - Seattle Soccer LLC in Seattle, WA
159 S Jackson St Suite 200
Seattle, WA 98104
Business Industry:
Sports Teams and Clubs
NAICS code 711211
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Seattle
In the Seattle area, 5 businesses in the "Sports Teams and Clubs" industry received a PPP loan. These local businesses reported an average of 77 employees (compared to this company's 238) and received an average PPP loan of $979,667 (compared to this company's $2.78M).
Similar Nearby Businesses Who Received PPP Funding:
Washington Men's Gymnastics Foundation
Seattle, WA
Global Soccer Networks LLC
Seattle, WA
Fenix Experience LLC
Seattle, WA
Industry PPP Comparison Statistics
Nationwide, 6,856 businesses in the "Sports Teams and Clubs" industry received a total of $409.71M 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 10 employees, 96% lower than Seattle Soccer LLC's reported 238 employees, and received an average PPP loan of $59,759, 98% lower than this company's loan of $2.78M.
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.
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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