Taylor Shellfish Company. Inc in Shelton, WA - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Taylor Shellfish Company. Inc, Shelton, WA

Taylor Shellfish Company. Inc

Entity: Corporation

Industry: Seafood Product Preparation and Packaging

Location: Shelton, WA

Taylor Shellfish Company. Inc is a corporation located at 130 Se Lynch Rd in Shelton, Washington that received a Coronavirus-related PPP loan from the SBA of $5,408,086.00 in April, 2020.

$ PPP Loan Information
Loan #5487597109

Loan Size:

$5.41M

Jobs Retained:

486

Loan Approved:

2020-04-13

Loan Status:

Paid in Full or Forgiven

Lender:

KeyBank National Association

Taylor Shellfish Company. Inc in Shelton, WA received a Paycheck Protection Loan of $5.41M through KeyBank National Association, 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 September, 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.

Understanding 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.

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, Taylor Shellfish Company. Inc's 2019 payroll expenses are estimated to be at least $25.96M.

Based on their reported 486 jobs retained, this equals an estimated average yearly compensation of $53,413 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Taylor Shellfish Company. Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $5,408,086

Because the loan received by Taylor Shellfish Company. Inc 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 - Taylor Shellfish Company. Inc in Shelton, WA

Taylor Shellfish Company. Inc
130 Se Lynch Rd
Shelton, WA 98584

Business Industry:
Seafood Product Preparation and Packaging
NAICS code 311710

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Mason County, WA — SBA Office 1013 — Congressional District: WA-10

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Taylor Shellfish Company. Inc.

Taylor Restaurants, Inc
Full-Service Restaurants

$847,652 PPP Loan

Similar Companies near Shelton

In the Shelton area, 3 businesses in the "Seafood Product Preparation and Packaging" industry received a PPP loan. These local businesses reported an average of 164 employees (compared to this company's 486) and received an average PPP loan of $1,808,949 (compared to this company's $5.41M).

Similar Nearby Businesses Who Received PPP Funding:

North Bay Seafoods LLC
Shelton, WA

$3,561 PPP Loan

Seven Isles Seafoods LLC
Shelton, WA

$15,200 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 1,037 businesses in the "Seafood Product Preparation and Packaging" industry received a total of $193.79M 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 23 employees, 95% lower than Taylor Shellfish Company. Inc's reported 486 employees, and received an average PPP loan of $186,877, 97% lower than this company's loan of $5.41M.

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.

Search FederalPay's Full PPP Loan Database

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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