PPP Loan Data — Synergy Roof Services, LLC, Woodinville, WA
Synergy Roof Services, LLC is a limited liability company (LLC) located at 17430 198th Ave Ne in Woodinville, Washington that received a Coronavirus-related PPP loan from the SBA of $45,765.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Synergy Roof Services, LLC in Woodinville, WA received a Paycheck Protection Loan of $45,765 through Bank of America, National Association, which was approved in May, 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 April, 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, Synergy Roof Services, LLC's 2019 payroll expenses are estimated to be at least $219,672.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $43,934 per employee1
Reported PPP Proceed Usage:
On the PPP application, Synergy Roof Services, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,765
Business Information - Synergy Roof Services, LLC in Woodinville, WA
17430 198th Ave Ne
Woodinville, WA 98077
NAICS code 238160
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Woodinville
In the Woodinville area, 2 businesses in the "Roofing Contractors" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 5) and received an average PPP loan of $36,697 (compared to this company's $45,765).
Similar Nearby Businesses Who Received PPP Funding:
Aaa-1 Roof Care
Industry PPP Comparison Statistics
Nationwide, 28,905 businesses in the "Roofing Contractors" industry received a total of $2.88B 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 9 employees, 80% higher than Synergy Roof Services, LLC's reported 5 employees, and received an average PPP loan of $99,538, 117% higher than this company's loan of $45,765.
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Footnotes & Information
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