PPP Loan Data — Glas Coin Rmg, LLC, Pearl River, NY
Glas Coin Rmg, LLC is a limited liability company (LLC) located at 125 E Central Ave Ste 1 in Pearl River, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Glas Coin Rmg, LLC in Pearl River, NY received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in June, 2020.
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, Glas Coin Rmg, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Glas Coin Rmg, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,000
- Rent: $6,000
Business Information - Glas Coin Rmg, LLC in Pearl River, NY
125 E Central Ave Ste 1
Pearl River, NY 10965
All Other Legal Services
NAICS code 541199
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 17,879 businesses in the "All Other Legal Services" industry received a total of $860.5M 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, 33% lower than Glas Coin Rmg, LLC's reported 6 employees, and received an average PPP loan of $48,129, 93% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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