PPP Loan Data — Tidewater Inc, Elkridge, MD
Tidewater Inc is a subchapter s corporation located at 6625 Selnick Dr in Elkridge, Maryland that received a Coronavirus-related PPP loan from the SBA of $1,533,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Tidewater Inc in Elkridge, MD received a Paycheck Protection Loan of $1.53M through PNC 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, Tidewater Inc's 2019 payroll expenses are estimated to be at least $7.36M.
Based on their reported 105 jobs retained, this equals an estimated average yearly compensation of $70,117 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tidewater Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,533,800
Business Information - Tidewater Inc in Elkridge, MD
6625 Selnick Dr
Elkridge, MD 21075
NAICS code 562910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Elkridge
In the Elkridge area, 5 businesses in the "Remediation Services" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 105) and received an average PPP loan of $584,837 (compared to this company's $1.53M).
Similar Nearby Businesses Who Received PPP Funding:
Servpro Of Howard County, LLC
Infinity Environmental Inc
Asbestos Specialists Inc
Divine Restore Incorporated
Suite F, MD
Industry PPP Comparison Statistics
Nationwide, 4,186 businesses in the "Remediation Services" industry received a total of $878.16M 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 18 employees, 83% lower than Tidewater Inc's reported 105 employees, and received an average PPP loan of $209,785, 86% lower than this company's loan of $1.53M.
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Footnotes & Information
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