PPP Loan Data — Whidbey Bay Fisheries, Cordova, AK
Whidbey Bay Fisheries is a sole proprietorship located at Po Box 1771 in Cordova, Alaska that received a Coronavirus-related PPP loan from the SBA of $25,461.00 in June, 2020.
The company has reported itself as a White male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First National Bank Alaska
Whidbey Bay Fisheries in Cordova, AK received a Paycheck Protection Loan of $25,461 through First National Bank Alaska, which was approved in June, 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, Whidbey Bay Fisheries' 2019 payroll expenses are estimated to be at least $122,213.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,369 per employee1
Reported PPP Proceed Usage:
On the PPP application, Whidbey Bay Fisheries reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,461
Business Information - Whidbey Bay Fisheries in Cordova, AK
Po Box 1771
Cordova, AK 99574
NAICS code 114112
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Cordova
In the Cordova area, 3 businesses in the "Shellfish Fishing" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $15,645 (compared to this company's $25,461).
Similar Nearby Businesses Who Received PPP Funding:
Black River Fisheries
Industry PPP Comparison Statistics
Nationwide, 6,185 businesses in the "Shellfish Fishing" industry received a total of $131.06M 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, 67% lower than Whidbey Bay Fisheries' reported 6 employees, and received an average PPP loan of $21,189, 17% lower than this company's loan of $25,461.
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Footnotes & Information
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