HARVEY GULF INTERNATIONAL MARINE, LLC
PPP Loan approved Apr 27, 2020 through Gulf Coast Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $6,995,995.00 | 81.3% |
| Utilities | $38,500.00 | 0.4% |
| Rent / Lease | $72,000.00 | 0.8% |
| Mortgage Interest | $1,500,000.00 | 17.4% |
About This Loan
HARVEY GULF INTERNATIONAL MARINE, LLC received a PPP loan of $8,606,495 approved on Apr 27, 2020. The loan was originated by Gulf Coast Bank.
HARVEY GULF INTERNATIONAL MARINE, LLC is a limited liability company(llc) located in NEW ORLEANS, Louisiana. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Deep Sea, Coastal, and Great Lakes Water Transportation industry (NAICS 483113), part of the Transportation and Warehousing sector of the economy. The applicant reported 500 jobs as retained through this loan.
The SBA forgave $8,703,642.29 of this loan — 101.1% of the total approved amount, with forgiveness recorded on Jun 17, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $6,995,995 to payroll, $38,500 to utilities, $72,000 to rent or lease obligations, $1,500,000 to mortgage interest. The payroll component represents 81.3% 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 Louisiana, visit the Louisiana page. To compare this loan with others in the same industry, see the Deep Sea, Coastal, and Great Lakes Water Transportation industry page.