NAVATEK LLC
PPP Loan approved Apr 6, 2020 through Central Pacific Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $10,000,000.00 | 100.0% |
About This Loan
NAVATEK LLC received a PPP loan of $10,000,000 approved on Apr 6, 2020. The loan was originated by Central Pacific Bank.
NAVATEK LLC is a limited liability company(llc) located in HONOLULU, Hawaii. At the time of the application, the business was described as "new business or 2 years or less".
The business operates in the Scientific Research and Development Services industry (NAICS 541710), part of the Professional, Scientific, and Technical Services sector of the economy. The applicant reported 490 jobs as retained through this loan.
No forgiveness has been recorded for this loan in the SBA's September 2024 data release. Possible explanations include: the borrower chose to repay rather than apply for forgiveness; the forgiveness application was denied; the loan was still in repayment status at the time of the data freeze; or the borrower defaulted, leading to a charge-off.
According to the SBA's records, the proceeds of this loan were allocated as follows: $10,000,000 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Hawaii, visit the Hawaii page. To compare this loan with others in the same industry, see the Scientific Research and Development Services industry page.