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PPP Loan Data — Society Of Photo-Optical Instrumentation Engineers, Bellingham, WA

SBA PPP loan data, payroll data, and salaries for Society Of Photo-Optical Instrumentation Engineers
WA Nonprofit Organization

Society Of Photo-Optical Instrumentation Engineers

Entity: Non-profit Organization

Industry: Professional Organizations

Location: Bellingham, WA

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Society Of Photo-Optical Instrumentation Engineers is a non-profit organization located at 1000 20th St in Bellingham, Washington that received a Coronavirus-related PPP loan from the SBA of $2,956,260.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$2.96M

Jobs Retained:

195

Loan Approved:

2020-05-01

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Society Of Photo-Optical Instrumentation Engineers received a Paycheck Protection Loan of $2.96M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Society Of Photo-Optical Instrumentation Engineers' total 2019 payroll expenses were approximately $14.19M in order to qualify for the PPP loan amount received.

Based on their reported 195 jobs retained, this equals an estimated average yearly compensation of $72,769 per employee1.

Because the loan received by Society Of Photo-Optical Instrumentation Engineers 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 - Society Of Photo-Optical Instrumentation Engineers in Bellingham, WA

Society Of Photo-Optical Instrumentation Engineers
1000 20th St
Bellingham, WA 98225

Business Industry

Professional Organizations (NAICS code 813920)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: WA-02

Similar Companies near Bellingham

In the Bellingham area, 4 businesses in the "Professional Organizations" industry received a PPP loan. These local businesses reported an average of 51 employees (compared to this company's 195) and received an average PPP loan of $753,947 (compared to this company's $2.96M).

Industry PPP Comparison Statistics

Nationwide, 5,854 businesses in the "Professional Organizations" industry received a total of $547,492,722.00 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 7 employees, 96% lower than Society Of Photo-Optical Instrumentation Engineers' reported 195 employees, and received an average PPP loan of $93,525, 97% lower than this company's loan of $2.96M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/society-of-photo-optical-instrumentation-engineers-bellingham-wa