PPP Loan Data — R. M. Fountain Jr Maintenance Company, Greenville, NC
R. M. Fountain Jr Maintenance Company is a non-profit organization located at 1510 E Arlington Blvd Suite C in Greenville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $46,562.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Carter Bank & Trust
R. M. Fountain Jr Maintenance Company in Greenville, NC received a Paycheck Protection Loan of $46,562 through Carter Bank & Trust, which was approved in April, 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. M. Fountain Jr Maintenance Company's 2019 payroll expenses are estimated to be at least $223,498.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,318 per employee1
Reported PPP Proceed Usage:
On the PPP application, R. M. Fountain Jr Maintenance Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,562
Business Information - R. M. Fountain Jr Maintenance Company in Greenville, NC
1510 E Arlington Blvd Suite C
Greenville, NC 27858
Residential Property Managers
NAICS code 531311
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Greenville
In the Greenville area, 7 businesses in the "Residential Property Managers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 11) and received an average PPP loan of $39,095 (compared to this company's $46,562).
Similar Nearby Businesses Who Received PPP Funding:
Young Management Inc
Eastern Property Management, LLC
Industry PPP Comparison Statistics
Nationwide, 36,628 businesses in the "Residential Property Managers" industry received a total of $3.05B 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 9 employees, 18% lower than R. M. Fountain Jr Maintenance Company's reported 11 employees, and received an average PPP loan of $83,394, 79% higher than this company's loan of $46,562.
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Footnotes & Information
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