PPP Loan Data — R & R Resale, Inc, West Chester, OH
R & R Resale, Inc is a subchapter s corporation located at 5577 Spellmire Dr in West Chester, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,582,500.00 in April, 2020. This business is a Plato's Closet franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
R & R Resale, Inc in West Chester, OH received a Paycheck Protection Loan of $1.58M through PNC Bank, National Association, 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 & R Resale, Inc's 2019 payroll expenses are estimated to be at least $7.6M.
Based on their reported 396 jobs retained, this equals an estimated average yearly compensation of $19,182 per employee1
Reported PPP Proceed Usage:
On the PPP application, R & R Resale, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,582,500
Business Information - R & R Resale, Inc in West Chester, OH
5577 Spellmire Dr
West Chester, OH 45246
Used Merchandise Stores
NAICS code 453310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near West Chester
In the West Chester area, 2 businesses in the "Used Merchandise Stores" industry received a PPP loan. These local businesses reported an average of 199 employees (compared to this company's 396) and received an average PPP loan of $796,291 (compared to this company's $1.58M).
Similar Nearby Businesses Who Received PPP Funding:
C.o. Vintage, LLC
Industry PPP Comparison Statistics
Nationwide, 12,348 businesses in the "Used Merchandise Stores" industry received a total of $577.39M 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 8 employees, 98% lower than R & R Resale, Inc's reported 396 employees, and received an average PPP loan of $46,760, 97% lower than this company's loan of $1.58M.
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Footnotes & Information
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