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PPP Loan Data — Radco Residential LLC,
Atlanta, GA
Radco Residential LLC
Entity: Limited Liability Company (LLC)
Industry: Residential Property Managers
Location: Atlanta, GA
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Radco Residential LLC is a limited liability company (LLC) located at 400 Galleria Pkwy Se Ste 1200 in Atlanta, Georgia that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2021.
$
PPP Loan Information
Loan #2063368806
Loan Size:
Jobs Retained:
150Loan Approved:
2021-04-11Loan Status:
Ongoing LoanLender:
Wells Fargo Bank, National AssociationRadco Residential LLC in Atlanta, GA received a Paycheck Protection Loan of $2M through Wells Fargo Bank, National Association, which was approved in April, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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.
Read MoreUnderstanding 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.
Read MoreBased 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, Radco Residential LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 150 jobs retained, this equals an estimated average yearly compensation of $64,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Radco Residential LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Radco Residential LLC in Atlanta, GA
400 Galleria Pkwy Se Ste 1200
Atlanta, GA 30339
Business Industry:
Residential Property Managers
NAICS code 531311
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: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Atlanta
In the Atlanta area, 20 businesses in the "Residential Property Managers" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 150) and received an average PPP loan of $516,137 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Fieldstone Realty Partners, LLC
Atlanta, GA
Real Property Management Group Inc
Atlanta, GA
Nelson Burns
Atlanta, GA
Warwick Land LLC
Atlanta, GA
Shaheen & Co Inc
Atlanta, GA
Vanguard Property Management Inc
Atlanta, GA
Castlegate Property Group, LLC
Atlanta, GA
Samara Williamson
Atlanta, GA
Industry PPP Comparison Statistics
Nationwide, 35,979 businesses in the "Residential Property Managers" industry received a total of $3.03B 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 9 employees, 94% lower than Radco Residential LLC's reported 150 employees, and received an average PPP loan of $84,237, 96% lower than this company's loan of $2M.
Radco Residential LLC
Entity: Limited Liability Company (LLC)
Industry: New Multifamily Housing Construction (except For-Sale Builders)
Location: Atlanta, GA
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Radco Residential LLC is a limited liability company (LLC) located at 400 Galleria Parkway Suite 1200 in Atlanta, Georgia that received a Coronavirus-related PPP loan from the SBA of $4,846,360.00 in May, 2020.
$
PPP Loan Information
Loan #4879107706
Loan Size:
Jobs Retained:
301Loan Approved:
2020-05-01Loan Status:
Ongoing LoanLender:
Wells Fargo Bank, National AssociationRadco Residential LLC in Atlanta, GA received a Paycheck Protection Loan of $4.85M through Wells Fargo Bank, National Association, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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.
Read MoreUnderstanding 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.
Read MoreBased 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, Radco Residential LLC's 2019 payroll expenses are estimated to be at least $23.26M.
Based on their reported 301 jobs retained, this equals an estimated average yearly compensation of $77,284 per employee1
Reported PPP Proceed Usage:
On the PPP application, Radco Residential LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,846,360
Business Information - Radco Residential LLC in Atlanta, GA
400 Galleria Parkway Suite 1200
Atlanta, GA 30339
Business Industry:
New Multifamily Housing Construction (except For-Sale Builders)
NAICS code 236116
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: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Radco Residential LLC.
Radco Management Inc
Other Activities Related to Real Estate
Similar Companies near Atlanta
In the Atlanta area, 5 businesses in the "New Multifamily Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 301) and received an average PPP loan of $1,026,907 (compared to this company's $4.85M).
Similar Nearby Businesses Who Received PPP Funding:
Longo Homes Inc
Atlanta, GA
LCW Residential Inc
Atlanta, GA
Paradigm Blue LLC
Atlanta, GA
Sandra Bohorquez
Atlanta, GA
Industry PPP Comparison Statistics
Nationwide, 12,935 businesses in the "New Multifamily Housing Construction (except For-Sale Builders)" industry received a total of $1.1B 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, 97% lower than Radco Residential LLC's reported 301 employees, and received an average PPP loan of $84,829, 98% lower than this company's loan of $4.85M.
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.
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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