PPP Loan Data — Waterblasting Technologies Inc, Stuart, FL
Waterblasting Technologies Inc is a limited liability company (LLC) located at 3920 Se Commerce Ave in Stuart, Florida that received a Coronavirus-related PPP loan from the SBA of $1,971,680.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Waterblasting Technologies Inc in Stuart, FL received a Paycheck Protection Loan of $1.97M 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 March, 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, Waterblasting Technologies Inc's 2019 payroll expenses are estimated to be at least $9.46M.
Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $60,667 per employee1
Reported PPP Proceed Usage:
On the PPP application, Waterblasting Technologies Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,971,680
Business Information - Waterblasting Technologies Inc in Stuart, FL
3920 Se Commerce Ave
Stuart, FL 34997
Construction Machinery Manufacturing
NAICS code 333120
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,642 businesses in the "Construction Machinery Manufacturing" industry received a total of $361.62M 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 11 employees, 93% lower than Waterblasting Technologies Inc's reported 156 employees, and received an average PPP loan of $136,874, 93% lower than this company's loan of $1.97M.
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Footnotes & Information
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