PPP Loan Data — Affordable Rent To Own, LLC, Lafayette, LA
Affordable Rent To Own, LLC is a limited liability company (LLC) located at 3118 Pinhook Rd in Lafayette, Louisiana that received a Coronavirus-related PPP loan from the SBA of $2,539,700.00 in April, 2020.
$ PPP Loan Information
Lender:HANCOCK WHITNEY BANK
Affordable Rent To Own, LLC in Lafayette, LA received a Paycheck Protection Loan of $2.54M through HANCOCK WHITNEY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Affordable Rent To Own, LLC's total 2019 payroll expenses were approximately $12.19M in order to qualify for the PPP loan amount received.
Based on their reported 276 jobs retained, this equals an estimated average yearly compensation of $44,169 per employee1.
Business Information - Affordable Rent To Own, LLC in Lafayette, LA
3118 Pinhook Rd
Lafayette, LA 70508
All Other Consumer Goods Rental (NAICS code 532289)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: LA-03
Similar Companies near Lafayette
In the Lafayette area, 4 businesses in the "All Other Consumer Goods Rental" industry received a PPP loan. These local businesses reported an average of 79 employees (compared to this company's 276) and received an average PPP loan of $718,025 (compared to this company's $2.54M).
Similar Nearby Businesses Who Received PPP Funding:
Affordable Rent To Own Of Beaumont, LLC
Bouncing Buddies Inc
Affordable Rent To Own Of Mccomb, LLC
Industry PPP Comparison Statistics
Nationwide, 1,978 businesses in the "All Other Consumer Goods Rental" industry received a total of $202,451,943.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 10 employees, 96% lower than Affordable Rent To Own, LLC's reported 276 employees, and received an average PPP loan of $102,352, 96% lower than this company's loan of $2.54M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. 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.
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