PPP Loan Data — R C Sky Inc, Savannah, GA
R C Sky Inc is a corporation located at 14045 Abercorn St Ste 2610 in Savannah, Georgia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as an Asian male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
R C Sky Inc in Savannah, GA received a Paycheck Protection Loan of $25,000 through Bank of America, National Association, which was approved in May, 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, R C Sky Inc'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, R C Sky Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - R C Sky Inc in Savannah, GA
14045 Abercorn St Ste 2610
Savannah, GA 31419
NAICS code 722513
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Savannah
In the Savannah area, 14 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 6) and received an average PPP loan of $43,417 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Beaufort Wet Willies LLC
Meek MD 5 LLC
TS & Hs Enterprises Inc
Savannah Suncoast LLC
SDI Of 95, LLC
Asian Restaurant LLC
1977 USA Deli Inc
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 250% higher than R C Sky Inc's reported 6 employees, and received an average PPP loan of $100,980, 304% higher than this company's loan of $25,000.
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