PPP Loan Data — R P G M Inc, Edison, NJ
R P G M Inc is a limited liability company (LLC) located at 19 Brian Rd in Edison, New Jersey that received a Coronavirus-related PPP loan from the SBA of $24,894.00 in July, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Cross River Bank
R P G M Inc in Edison, NJ received a Paycheck Protection Loan of $24,894 through Cross River Bank, which was approved in July, 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.
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 P G M Inc's 2019 payroll expenses are estimated to be at least $119,491.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,898 per employee1
Reported PPP Proceed Usage:
On the PPP application, R P G M Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,894
Business Information - R P G M Inc in Edison, NJ
19 Brian Rd
Edison, NJ 8817
Industrial Supplies Merchant Wholesalers
NAICS code 423840
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Edison
In the Edison area, 4 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 5) and received an average PPP loan of $57,359 (compared to this company's $24,894).
Similar Nearby Businesses Who Received PPP Funding:
Fujian Light Industrial Products Imp & Exp Group (USA) Inc
East Brunswick, NJ
East Brunswick, NJ
Industry PPP Comparison Statistics
Nationwide, 6,397 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $1.02B 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 13 employees, 160% higher than R P G M Inc's reported 5 employees, and received an average PPP loan of $160,215, 544% higher than this company's loan of $24,894.
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Footnotes & Information
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