PPP Loan Data — Kentucky River Foothills Development Council, Incorporated, Richmond, KY
Kentucky River Foothills Development Council, Incorporated is a non-profit organization located at 309 Spangler Dr in Richmond, Kentucky that received a Coronavirus-related PPP loan from the SBA of $1,593,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Central Bank & Trust Co.
Kentucky River Foothills Development Council, Incorporated in Richmond, KY received a Paycheck Protection Loan of $1.59M through Central Bank & Trust Co., 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 March, 2021.
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, Kentucky River Foothills Development Council, Incorporated's 2019 payroll expenses are estimated to be at least $7.65M.
Based on their reported 162 jobs retained, this equals an estimated average yearly compensation of $47,203 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kentucky River Foothills Development Council, Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,593,100
Business Information - Kentucky River Foothills Development Council, Incorporated in Richmond, KY
309 Spangler Dr
Richmond, KY 40475
Miscellaneous Financial Investment Activities
NAICS code 523999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 12,855 businesses in the "Miscellaneous Financial Investment Activities" industry received a total of $583.39M 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 3 employees, 98% lower than Kentucky River Foothills Development Council, Incorporated's reported 162 employees, and received an average PPP loan of $45,383, 97% lower than this company's loan of $1.59M.
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Footnotes & Information
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