PPP Loan Data — Radio Engineering Industries, Omaha, NE
Radio Engineering Industries is a corporation located at 6534 L St in Omaha, Nebraska that received a Coronavirus-related PPP loan from the SBA of $2,340,340.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 169 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Radio Engineering Industries in Omaha, NE received a Paycheck Protection Loan of $2.34M through Arbor 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, Radio Engineering Industries' 2019 payroll expenses are estimated to be at least $11.23M.
Based on their reported 169 jobs retained, this equals an estimated average yearly compensation of $66,471 per employee1
Reported PPP Proceed Usage:
On the PPP application, Radio Engineering Industries reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,340,340
Business Information - Radio Engineering Industries in Omaha, NE
6534 L St
Omaha, NE 68117
Audio and Video Equipment Manufacturing
NAICS code 334310
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Omaha
In the Omaha area, 2 businesses in the "Audio and Video Equipment Manufacturing" industry received a PPP loan. These local businesses reported an average of 165 employees (compared to this company's 169) and received an average PPP loan of $2,170,170 (compared to this company's $2.34M).
Similar Nearby Businesses Who Received PPP Funding:
Radio Engineering Industries Inc
Industry PPP Comparison Statistics
Nationwide, 2,207 businesses in the "Audio and Video Equipment Manufacturing" industry received a total of $271.45M 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, 94% lower than Radio Engineering Industries' reported 169 employees, and received an average PPP loan of $122,994, 95% lower than this company's loan of $2.34M.
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Footnotes & Information
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