PPP Loan Data — Stavis Seafoods LLC, Boston, MA
Stavis Seafoods LLC is a limited liability company (LLC) located at 212 Northern Ave in Boston, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,703,250.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:People's United Bank, National Association
Stavis Seafoods LLC in Boston, MA received a Paycheck Protection Loan of $1.7M through People's United Bank, National Association, which was approved in April, 2020.
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, Stavis Seafoods LLC's 2019 payroll expenses are estimated to be at least $8.18M.
Based on their reported 109 jobs retained, this equals an estimated average yearly compensation of $75,006 per employee1
Reported PPP Proceed Usage:
On the PPP application, Stavis Seafoods LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,703,250
Business Information - Stavis Seafoods LLC in Boston, MA
212 Northern Ave
Boston, MA 2210
Fish and Seafood Merchant Wholesalers
NAICS code 424460
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Boston
In the Boston area, 25 businesses in the "Fish and Seafood Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 109) and received an average PPP loan of $553,920 (compared to this company's $1.7M).
Similar Nearby Businesses Who Received PPP Funding:
Cape Cod Shellfish And Seafood Co Inc
Wulf Fish Wholesale LLC
John Mantia & Sons Co., Inc
Four Seas Inc
John Nagle Co
Atlantic Coast Seafood, Inc
Beau's Seafood Inc
North Coast Seafoods Corp
Industry PPP Comparison Statistics
Nationwide, 3,281 businesses in the "Fish and Seafood Merchant Wholesalers" industry received a total of $360.62M 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 12 employees, 89% lower than Stavis Seafoods LLC's reported 109 employees, and received an average PPP loan of $109,912, 94% lower than this company's loan of $1.7M.
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Footnotes & Information
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