PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — CM Red LLC, Raleigh, NC

ALERT: There are 2 PPP loans for a total of $694,800 in our database for businesses with the name "CM Red LLC" in Raleigh, NC. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for CM Red LLC
NC

CM Red LLC

Entity: Limited Liability Company (LLC)

Industry: Poured Concrete Foundation and Structure Contractors

Location: Raleigh, NC

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CM Red LLC is a limited liability company (LLC) located at 9201 Old Poole Rd. Ste 100 in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $350,600.00 in March, 2021.

The company has reported itself as a male owned business, and employed at least 37 people during the applicable loan loan period.

$ PPP Loan Information
Loan #3591058609

Loan Size:

$350,600

Jobs Retained:

37

Loan Approved:

2021-03-17

Loan Status:

Paid in Full or Forgiven

Lender:

First-Citizens Bank & Trust Company

CM Red LLC in Raleigh, NC received a Paycheck Protection Loan of $350,600 through First-Citizens Bank & Trust Company, which was approved in March, 2021.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in October, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, CM Red LLC's 2019 payroll expenses are estimated to be at least $1.68M.

Based on their reported 37 jobs retained, this equals an estimated average yearly compensation of $45,483 per employee1

Reported PPP Proceed Usage:

On the PPP application, CM Red LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $350,600

Business Information - CM Red LLC in Raleigh, NC

CM Red LLC
9201 Old Poole Rd. Ste 100
Raleigh, NC 27610

Business Industry:
Poured Concrete Foundation and Structure Contractors
NAICS code 238110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Wake County, NC — SBA Office 0460 — Congressional District: NC-02

Similar Companies near Raleigh

In the Raleigh area, 2 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 37) and received an average PPP loan of $347,700 (compared to this company's $350,600).

Similar Nearby Businesses Who Received PPP Funding:

Central Concrete Of NC, Inc
Raleigh, NC

$344,800 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 21,571 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a total of $3.02B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 13 employees, 65% lower than CM Red LLC's reported 37 employees, and received an average PPP loan of $139,812, 60% lower than this company's loan of $350,600.

SBA PPP loan data, payroll data, and salaries for CM Red LLC
NC

CM Red LLC

Entity: Limited Liability Company (LLC)

Industry: All Other Specialty Trade Contractors

Location: Raleigh, NC

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CM Red LLC is a limited liability company (LLC) located at 700 Summer Music Ln in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $344,200.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 36 people during the applicable loan loan period.

$ PPP Loan Information
Loan #7378127206

Loan Size:

$344,200

Jobs Retained:

36

Loan Approved:

2020-04-28

Loan Status:

Paid in Full or Forgiven

Lender:

First-Citizens Bank & Trust Company

CM Red LLC in Raleigh, NC received a Paycheck Protection Loan of $344,200 through First-Citizens Bank & Trust Company, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, CM Red LLC's 2019 payroll expenses are estimated to be at least $1.65M.

Based on their reported 36 jobs retained, this equals an estimated average yearly compensation of $45,893 per employee1

Reported PPP Proceed Usage:

On the PPP application, CM Red LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $344,200

Business Information - CM Red LLC in Raleigh, NC

CM Red LLC
700 Summer Music Ln
Raleigh, NC 27603

Business Industry:
All Other Specialty Trade Contractors
NAICS code 238990

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Wake County, NC — SBA Office 0460 — Congressional District: NC-02

Similar Companies near Raleigh

In the Raleigh area, 23 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 36) and received an average PPP loan of $150,525 (compared to this company's $344,200).

Industry PPP Comparison Statistics

Nationwide, 92,275 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.02B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 8 employees, 78% lower than CM Red LLC's reported 36 employees, and received an average PPP loan of $86,934, 75% lower than this company's loan of $344,200.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/cm-red-llc-raleigh-nc