PPP Loan Data — Fortune RD Holdings, Inc, Lafayette, LA
Fortune RD Holdings, Inc is a corporation located at 806 E St Mary Blvd in Lafayette, Louisiana that received a Coronavirus-related PPP loan from the SBA of $25,289.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Gulf Coast Bank
Fortune RD Holdings, Inc in Lafayette, LA received a Paycheck Protection Loan of $25,289 through Gulf Coast Bank, 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 February, 2021.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Fortune RD Holdings, Inc's 2019 payroll expenses are estimated to be at least $121,387 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Fortune RD Holdings, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,289
Business Information - Fortune RD Holdings, Inc in Lafayette, LA
806 E St Mary Blvd
Lafayette, LA 70503
Other Activities Related to Real Estate
NAICS code 531390
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lafayette
In the Lafayette area, 33 businesses in the "Other Activities Related to Real Estate" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $32,898 (compared to this company's $25,289).
Similar Nearby Businesses Who Received PPP Funding:
Goulas Real Estate, LLC
Aaron J Bergeron
CDB Enterprises Inc
Ironwood Renewables LLC
Bouligny Project Management LLC
Phil 44 LLC
Apex Innovations LLC
Suncoast Land Company
Industry PPP Comparison Statistics
Nationwide, 79,334 businesses in the "Other Activities Related to Real Estate" industry received a total of $3.69B 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 4 employees, 300% higher than Fortune RD Holdings, Inc's reported 1 employees, and received an average PPP loan of $46,456, 84% higher than this company's loan of $25,289.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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