PPP Loan Data — R Raymond Palmerx Inc, Saraland, AL
R Raymond Palmerx Inc is a sole proprietorship located at 311a Shelton Beach Rd in Saraland, Alabama that received a Coronavirus-related PPP loan from the SBA of $45,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
R Raymond Palmerx Inc in Saraland, AL received a Paycheck Protection Loan of $45,800 through Regions Bank, 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 Raymond Palmerx Inc's 2019 payroll expenses are estimated to be at least $219,840.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,640 per employee1
Reported PPP Proceed Usage:
On the PPP application, R Raymond Palmerx Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,800
Business Information - R Raymond Palmerx Inc in Saraland, AL
311a Shelton Beach Rd
Saraland, AL 36571
Pharmacies and Drug Stores
NAICS code 446110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Saraland
In the Saraland area, 2 businesses in the "Pharmacies and Drug Stores" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 6) and received an average PPP loan of $170,450 (compared to this company's $45,800).
Similar Nearby Businesses Who Received PPP Funding:
Mcconaghy Drug Inc
Industry PPP Comparison Statistics
Nationwide, 18,035 businesses in the "Pharmacies and Drug Stores" industry received a total of $1.7B 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 12 employees, 100% higher than R Raymond Palmerx Inc's reported 6 employees, and received an average PPP loan of $94,214, 106% higher than this company's loan of $45,800.
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Footnotes & Information
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