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PPP Loan Data — Rago Enterprises LLC, Richmond, TX

SBA PPP loan data, payroll data, and salaries for Rago Enterprises LLC
TX

Rago Enterprises LLC

Entity: Limited Liability Company (LLC)

Industry: Poured Concrete Foundation and Structure Contractors

Location: Richmond, TX

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Rago Enterprises LLC is a limited liability company (LLC) located at 5610 Fm 2218 Rd in Richmond, Texas that received a Coronavirus-related PPP loan from the SBA of $5,471,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.47M

Jobs Retained:

493

Loan Approved:

2020-04-15

Lender:

ZIONS BANK, A DIVISION OF

Rago Enterprises LLC in Richmond, TX received a Paycheck Protection Loan of $5.47M through ZIONS BANK, A DIVISION OF, which was approved in April, 2020.

Based on standard PPP eligibility rules, Rago Enterprises LLC's total 2019 payroll expenses were approximately $26.26M in order to qualify for the PPP loan amount received.

Based on their reported 493 jobs retained, this equals an estimated average yearly compensation of $53,273 per employee1.

Because the loan received by Rago Enterprises LLC 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 - Rago Enterprises LLC in Richmond, TX

Rago Enterprises LLC
5610 Fm 2218 Rd
Richmond, TX 77469

Business Industry

Poured Concrete Foundation and Structure Contractors (NAICS code 238110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-22

Industry PPP Comparison Statistics

Nationwide, 12,254 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a total of $2,172,253,420.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 14 employees, 97% lower than Rago Enterprises LLC's reported 493 employees, and received an average PPP loan of $177,269, 97% lower than this company's loan of $5.47M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/rago-enterprises-llc-richmond-tx