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

PPP Loan Data — Code Red Safety & Rental LLC, Hammond, IN

ALERT: There are 2 PPP loans for a total of $5.15M in our database for businesses with the name "Code Red Safety & Rental LLC" in Hammond, IN. 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 Code Red Safety & Rental LLC
IN

Code Red Safety & Rental LLC

Entity: Limited Liability Company (LLC)

Industry: Other Scientific and Technical Consulting Services

Location: Hammond, IN

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Code Red Safety & Rental LLC is a limited liability company (LLC) located at 6205 Indianapolis Blvd N/a in Hammond, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.

$ PPP Loan Information
Loan #3220278704

Loan Size:

$2M

Jobs Retained:

121

Loan Approved:

2021-03-31

Loan Status:

Ongoing Loan

Lender:

Transportation Alliance Bank, Inc. d/b/a TAB Bank, Inc.

Code Red Safety & Rental LLC in Hammond, IN received a Paycheck Protection Loan of $2M through Transportation Alliance Bank, Inc. d/b/a TAB Bank, Inc., which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Code Red Safety & Rental LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 121 jobs retained, this equals an estimated average yearly compensation of $79,339 per employee1

Reported PPP Proceed Usage:

On the PPP application, Code Red Safety & Rental LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,998
  • Utilities: $1
Because the loan received by Code Red Safety & Rental LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Code Red Safety & Rental LLC in Hammond, IN

Code Red Safety & Rental LLC
6205 Indianapolis Blvd N/a
Hammond, IN 46320

Business Industry:
Other Scientific and Technical Consulting Services
NAICS code 541690

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Lake County, IN — SBA Office 0562 — Congressional District: IN-01

Similar Companies near Hammond

In the Hammond area, 3 businesses in the "Other Scientific and Technical Consulting Services" industry received a PPP loan. These local businesses reported an average of 43 employees (compared to this company's 121) and received an average PPP loan of $680,692 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 26,577 businesses in the "Other Scientific and Technical Consulting Services" industry received a total of $2.07B 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 6 employees, 95% lower than Code Red Safety & Rental LLC's reported 121 employees, and received an average PPP loan of $77,700, 96% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Code Red Safety & Rental, LLC
IN

Code Red Safety & Rental, LLC

Entity: Limited Liability Company (LLC)

Industry: All Other Miscellaneous Waste Management Services

Location: Hammond, IN

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Code Red Safety & Rental, LLC is a limited liability company (LLC) located at 6205 Indianapolis Blvd in Hammond, Indiana that received a Coronavirus-related PPP loan from the SBA of $3,152,500.00 in April, 2020.

$ PPP Loan Information
Loan #2567107207

Loan Size:

$3.15M

Jobs Retained:

211

Loan Approved:

2020-04-16

Loan Status:

Ongoing Loan

Lender:

Cadence Bank, National Association

Code Red Safety & Rental, LLC in Hammond, IN received a Paycheck Protection Loan of $3.15M through Cadence Bank, National Association, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Code Red Safety & Rental, LLC's 2019 payroll expenses are estimated to be at least $15.13M.

Based on their reported 211 jobs retained, this equals an estimated average yearly compensation of $71,716 per employee1

Reported PPP Proceed Usage:

On the PPP application, Code Red Safety & Rental, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,152,500
Because the loan received by Code Red Safety & Rental, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Code Red Safety & Rental, LLC in Hammond, IN

Code Red Safety & Rental, LLC
6205 Indianapolis Blvd
Hammond, IN 46320

Business Industry:
All Other Miscellaneous Waste Management Services
NAICS code 562998

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Lake County, IN — SBA Office 0562 — Congressional District: IN-01

Similar Companies near Hammond

In the Hammond area, 3 businesses in the "All Other Miscellaneous Waste Management Services" industry received a PPP loan. These local businesses reported an average of 85 employees (compared to this company's 211) and received an average PPP loan of $1,349,978 (compared to this company's $3.15M).

Industry PPP Comparison Statistics

Nationwide, 2,905 businesses in the "All Other Miscellaneous Waste Management Services" industry received a total of $301.27M 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 10 employees, 95% lower than Code Red Safety & Rental, LLC's reported 211 employees, and received an average PPP loan of $103,708, 97% lower than this company's loan of $3.15M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/code-red-safety-rental-llc-hammond-in