PPP Loan Data — Whatcom Sound LLC, Bellingham, WA
Whatcom Sound LLC is a limited liability company (LLC) located at 5012 Samish Way in Bellingham, Washington that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Federal Savings & Loan Association of Port Angeles d/b/a First Federal
Whatcom Sound LLC in Bellingham, WA received a Paycheck Protection Loan of $25,000 through First Federal Savings & Loan Association of Port Angeles d/b/a First Federal, 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, Whatcom Sound LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,143 per employee1
Reported PPP Proceed Usage:
On the PPP application, Whatcom Sound LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Whatcom Sound LLC in Bellingham, WA
5012 Samish Way
Bellingham, WA 98229
Independent Artists, Writers, and Performers
NAICS code 711510
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bellingham
In the Bellingham area, 5 businesses in the "Independent Artists, Writers, and Performers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 7) and received an average PPP loan of $10,618 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Groove Merchant Northwest LLC
Industry PPP Comparison Statistics
Nationwide, 99,116 businesses in the "Independent Artists, Writers, and Performers" industry received a total of $1.63B 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 2 employees, 71% lower than Whatcom Sound LLC's reported 7 employees, and received an average PPP loan of $16,422, 34% lower than this company's loan of $25,000.
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Footnotes & Information
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