PPP Loan Data — Raleigh Casket, Inc, Cool Ridge, WV
Raleigh Casket, Inc
Location: Cool Ridge, WVTweet This • Search All PPP Data
Raleigh Casket, Inc is a corporation located at Po Box 925 in Cool Ridge, West Virginia that received a Coronavirus-related PPP loan from the SBA of $25,327.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Pioneer Community Bank, Inc.
Raleigh Casket, Inc in Cool Ridge, WV received a Paycheck Protection Loan of $25,327 through Pioneer Community Bank, Inc., 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 January, 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, Raleigh Casket, Inc's 2019 payroll expenses are estimated to be at least $121,570.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,393 per employee1
Reported PPP Proceed Usage:
On the PPP application, Raleigh Casket, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,327
Business Information - Raleigh Casket, Inc in Cool Ridge, WV
Po Box 925
Cool Ridge, WV 25825
Other Miscellaneous Durable Goods Merchant Wholesalers
NAICS code 423990
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 26,568 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1.98B 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 7 employees, 75% higher than Raleigh Casket, Inc's reported 4 employees, and received an average PPP loan of $74,615, 195% higher than this company's loan of $25,327.
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Footnotes & Information
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