R W Warner Inc in Frederick, MD - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — R W Warner Inc, Frederick, MD

R W Warner Inc

Entity: Corporation

Industry: Plumbing, Heating, and Air-Conditioning Contractors

Location: Frederick, MD

R W Warner Inc is a corporation located at 207 Monroe Ave in Frederick, Maryland that received a Coronavirus-related PPP loan from the SBA of $3,329,040.00 in April, 2020.

$ PPP Loan Information
Loan #2105237108

Loan Size:

$3.33M

Jobs Retained:

230

Loan Approved:

2020-04-10

Loan Status:

Paid in Full or Forgiven

Lender:

Sandy Spring Bank

R W Warner Inc in Frederick, MD received a Paycheck Protection Loan of $3.33M through Sandy Spring Bank, which was approved in April, 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 November, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

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 W Warner Inc's 2019 payroll expenses are estimated to be at least $15.98M.

Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $69,476 per employee¹

Reported PPP Proceed Usage:

On the PPP application, R W Warner Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $3,329,040

Because the loan received by R W Warner Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - R W Warner Inc in Frederick, MD

R W Warner Inc
207 Monroe Ave
Frederick, MD 21701

Business Industry:
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Frederick County, MD — SBA Office 0373 — Congressional District: MD-06

Similar Companies near Frederick

In the Frederick area, 27 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 230) and received an average PPP loan of $223,787 (compared to this company's $3.33M).

Similar Nearby Businesses Who Received PPP Funding:

Frederick Air, Inc
Frederick, MD

$487,400 PPP Loan

Dave's Mechanical Services, LLC
Frederick, MD

$259,737 PPP Loan

Dun-Rite Plumbing And Heating, LLC
Frederick, MD

$72,026 PPP Loan

Mid Atlantic Comfort Specialists LLC
Frederick, MD

$20,833 PPP Loan

Tetteris Heating And Air
Frederick, MD

$13,600 PPP Loan

J M Fletcher Heating & Air Condition
Frederick, MD

$24,900 PPP Loan

Mohamed Conteh
Frederick, MD

$17,760 PPP Loan

Frederick Plumbing & Heating Inc
Frederick, MD

$54,829 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 103,883 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.03B 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 10 employees, 96% lower than R W Warner Inc's reported 230 employees, and received an average PPP loan of $125,397, 96% lower than this company's loan of $3.33M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.

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