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PPP Loan Data — Skills Inc,
Auburn, WA
Skills Inc
Entity: Non-profit Organization
Industry: Aircraft Manufacturing
Location: Auburn, WA
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Skills Inc is a non-profit organization located at 715 30th St Ne in Auburn, Washington that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as a White male owned non-profit, and employed at least 277 people during the applicable loan loan period.
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PPP Loan Information
Loan #5585348409
Loan Size:
Jobs Retained:
277Loan Approved:
2021-02-09Loan Status:
Paid in Full or ForgivenLender:
Umpqua BankSkills Inc in Auburn, WA received a Paycheck Protection Loan of $2M through Umpqua Bank, which was approved in February, 2021.
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 August, 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, Skills Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 277 jobs retained, this equals an estimated average yearly compensation of $34,657 per employee1
Reported PPP Proceed Usage:
On the PPP application, Skills Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Skills Inc in Auburn, WA
715 30th St Ne
Auburn, WA 98002
Business Industry:
Aircraft Manufacturing
NAICS code 336411
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Auburn
In the Auburn area, 4 businesses in the "Aircraft Manufacturing" industry received a PPP loan. These local businesses reported an average of 74 employees (compared to this company's 277) and received an average PPP loan of $544,850 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Complete Deburr
Auburn, WA
Olympic Aerospace, Inc
Federal Way, WA
Air Sky Inc
Auburn, WA
Industry PPP Comparison Statistics
Nationwide, 767 businesses in the "Aircraft Manufacturing" industry received a total of $208.57M 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 20 employees, 93% lower than Skills Inc's reported 277 employees, and received an average PPP loan of $271,936, 86% lower than this company's loan of $2M.
Skills Inc
Entity: Non-profit Organization
Industry: Vocational Rehabilitation Services
Location: Auburn, WA
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Skills Inc is a non-profit organization located at 715 30th Street Ne in Auburn, Washington that received a Coronavirus-related PPP loan from the SBA of $6,184,200.00 in April, 2020.
The company has reported itself as a White male owned non-profit, and employed at least 420 people during the applicable loan loan period.
$
PPP Loan Information
Loan #7691487107
Loan Size:
Jobs Retained:
420Loan Approved:
2020-04-14Loan Status:
Paid in Full or ForgivenLender:
Umpqua BankSkills Inc in Auburn, WA received a Paycheck Protection Loan of $6.18M through Umpqua Bank, 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, Skills Inc's 2019 payroll expenses are estimated to be at least $29.68M.
Based on their reported 420 jobs retained, this equals an estimated average yearly compensation of $70,677 per employee1
Reported PPP Proceed Usage:
On the PPP application, Skills Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $6,184,200
Business Information - Skills Inc in Auburn, WA
715 30th Street Ne
Auburn, WA 98002
Business Industry:
Vocational Rehabilitation Services
NAICS code 624310
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Auburn
In the Auburn area, 3 businesses in the "Vocational Rehabilitation Services" industry received a PPP loan. These local businesses reported an average of 180 employees (compared to this company's 420) and received an average PPP loan of $2,746,791 (compared to this company's $6.18M).
Similar Nearby Businesses Who Received PPP Funding:
Future Visions Program Inc
Auburn, WA
Strategic Consulting Services Inc
Federal Way, WA
Industry PPP Comparison Statistics
Nationwide, 3,904 businesses in the "Vocational Rehabilitation Services" industry received a total of $877.92M 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 33 employees, 92% lower than Skills Inc's reported 420 employees, and received an average PPP loan of $224,876, 96% lower than this company's loan of $6.18M.
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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