PPP Loan Data — Ralphie's Gas & Convenience LLC, Randolph, MA
Ralphie's Gas & Convenience LLC is a limited liability company (LLC) located at 733 S Main St in Randolph, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $24,855.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Ralphie's Gas & Convenience LLC in Randolph, MA received a Paycheck Protection Loan of $24,855 through Bank of America, National Association, 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, Ralphie's Gas & Convenience LLC's 2019 payroll expenses are estimated to be at least $119,304.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,861 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ralphie's Gas & Convenience LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,855
Business Information - Ralphie's Gas & Convenience LLC in Randolph, MA
733 S Main St
Randolph, MA 2368
Gasoline Stations with Convenience Stores
NAICS code 447110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Randolph
In the Randolph area, 6 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 5) and received an average PPP loan of $54,622 (compared to this company's $24,855).
Similar Nearby Businesses Who Received PPP Funding:
S & K Realty Trust Of Plympton Inc
Randolph Automotive Servicenter Inc
S And K Realty Trust Of Plympton, Inc
Benedictions Energy Inc
Industry PPP Comparison Statistics
Nationwide, 45,026 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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, 100% higher than Ralphie's Gas & Convenience LLC's reported 5 employees, and received an average PPP loan of $45,821, 84% higher than this company's loan of $24,855.
FederalPay's PPP Information Policy
Footnotes & Information
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