Deep Sea, Coastal, and Great Lakes Water Transportation

Businesses and organizations in the Deep Sea, Coastal, and Great Lakes Water Transportation industry (NAICS code 4831, part of the Transportation and Warehousing sector) received 1,614 PPP loans totaling $242.0M during the COVID-19 pandemic.

The average loan for this industry was $149,962 — above the national PPP average of approximately $67,000. This reflects the small business character of most participants in this industry, typically sole proprietors and micro-businesses with modest payroll obligations.

89.2% of loans in this industry were forgiven — totaling $233.5M. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include PATRIOT CONTRACT SERVICES, LLC of CONCORD, CA ($10,000,000); HARVEY GULF INTERNATIONAL MARINE, LLC of NEW ORLEANS, LA ($8,606,495); and BOUCHARD TRANSPORTATION CO. INC. of MELVILLE, NY ($7,885,000).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Transportation and Warehousing sector — air, rail, water, truck, transit, pipeline, and scenic transportation services. — businesses in NAICS 4831 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.