PPP Loan Data — Smithy LLC, Seattle, WA
Entity: Limited Liability Company (LLC)
Location: Seattle, WATweet This • Search All PPP Data
Smithy LLC is a limited liability company (LLC) located at 1752 Nw Market St 4252 in Seattle, Washington that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in July, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Cross River Bank
Smithy LLC in Seattle, WA received a Paycheck Protection Loan of $25,000 through Cross River Bank, which was approved in July, 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 February, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Smithy LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Smithy LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Smithy LLC in Seattle, WA
1752 Nw Market St 4252
Seattle, WA 98107
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Seattle
In the Seattle area, 49 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 2) and received an average PPP loan of $62,806 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
EN Route Workshop LLC
Eco-Shelter, LLC DBA Eco-Shelter
Rhodes Creations Inc
J Coupard Inc
Amy Michael LLC
Geyer Coburn Hutchins LLC
Urban Oasis Design & Construction LLC
Industry PPP Comparison Statistics
Nationwide, 129,763 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.41B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 150% higher than Smithy LLC's reported 2 employees, and received an average PPP loan of $57,091, 128% higher than this company's loan of $25,000.
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