PPP Loan Data — Raintite Seamless Gutters LLC, Chapel Hill, NC
Raintite Seamless Gutters LLC is a limited liability company (LLC) located at 5635 Hideaway Drive in Chapel Hill, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Raintite Seamless Gutters LLC in Chapel Hill, NC received a Paycheck Protection Loan of $25,200 through Truist Bank d/b/a Branch Banking & Trust Co, 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 February, 2021.
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, Raintite Seamless Gutters LLC's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,192 per employee1
Reported PPP Proceed Usage:
On the PPP application, Raintite Seamless Gutters LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Raintite Seamless Gutters LLC in Chapel Hill, NC
5635 Hideaway Drive
Chapel Hill, NC 27516
NAICS code 238170
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 4,831 businesses in the "Siding Contractors" industry received a total of $228.83M 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 5 employees, the same amount reported by Raintite Seamless Gutters LLC and received an average PPP loan of $47,366, 88% higher than this company's loan of $25,200.
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Footnotes & Information
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