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PPP Loan Information — RICHARDS DISTRIBUTING

SBA PPP loan data, payroll data, and salaries for
AK

RICHARDS DISTRIBUTING

Business Type: Subchapter S Corporation

Industry: Other Building Material Dealers

Location: FAIRBANKS, AK

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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

Loan Size:

$350,000 to $1M
Likely Actual Range:
$350,000 to $895,833

Jobs Retained:

43

Loan Approved:

2020-04-03

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

RICHARDS DISTRIBUTING
1698 Airport Way STE 1
FAIRBANKS, AK 99701

Business Industry

Other Building Material Dealers (NAICS code 444190)

Business Owner Demographics

Race / Ethnicity: Unanswered

Gender: Unanswered

Veteran Status: Unanswered

AK - 00

Similar Nearby Businesses Who Received PPP Funding:

NORTHLAND WOOD PRODUCTS, INC.
($350,000-1 million)
PIPPIN INC
($150,000-350,000)


Employee Statistics

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.

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/550-degrees-llc-phoenix-az