PPP Loan Information — RICHARDS DISTRIBUTING
RICHARDS DISTRIBUTING is a subchapter s corporation located in Fairbanks, Alaska that received a Coronavirus-related PPP loan from the SBA of at least $350,000.00 in April, 2020.
PPP Loan Information
$350,000 to $895,833
Lender:Mt. McKinley Bank
RICHARDS DISTRIBUTING received a Paycheck Protection Loan of between 350,000 and 1M through Mt. McKinley Bank, which was approved in April, 2020.
When accounting for 43 claimed employees and the PPP salary cap of $100k per employee, the actual maximum PPP received by this business is likely $895,8332.
Based on standard PPP eligibility rules, RICHARDS DISTRIBUTING's total 2019 payroll expenses were between $1.68M and $4.3M+ in order to qualify for the PPP loan amount received. Based on their reported 43 jobs retained, this equals an estimated average yearly compensation between $39,070 and $100,000+ per employee1.
Business Information - RICHARDS DISTRIBUTING in FAIRBANKS, AK
1698 Airport Way STE 1
FAIRBANKS, AK 99701
Other Building Material Dealers (NAICS code 444190)
Business Owner Demographics
Race / Ethnicity: Unanswered
Veteran Status: UnansweredAK - 00
Similar Nearby Businesses Who Received PPP Funding:NORTHLAND WOOD PRODUCTS, INC.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for private companies that received a PPP loan of $150,000 or over. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.