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PPP Loan Data — Rapid Response Monitoring Services Inc., Syracuse, NY

SBA PPP loan data, payroll data, and salaries for Rapid Response Monitoring Services Inc.
NY

Rapid Response Monitoring Services Inc.

Entity: Corporation

Industry: Security Systems Services (except Locksmiths)

Location: Syracuse, NY

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Rapid Response Monitoring Services Inc. is a corporation located at 400 West Division St in Syracuse, New York that received a Coronavirus-related PPP loan from the SBA of $6,731,855.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$6.73M

Jobs Retained:

500

Loan Approved:

2020-04-12

Lender:

TD BANK, NATIONAL ASSOCIATION

Rapid Response Monitoring Services Inc. received a Paycheck Protection Loan of $6.73M through TD BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Rapid Response Monitoring Services Inc.'s total 2019 payroll expenses were approximately $32.31M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $64,626 per employee1.

Because the loan received by Rapid Response Monitoring Services Inc. 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 - Rapid Response Monitoring Services Inc. in Syracuse, NY

Rapid Response Monitoring Services Inc.
400 West Division St
Syracuse, NY 13204

Business Industry

Security Systems Services (except Locksmiths) (NAICS code 561621)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-24

Similar Companies near Syracuse

In the Syracuse area, 2 businesses in the "Security Systems Services (except Locksmiths)" industry received a PPP loan. These local businesses reported an average of 262 employees (compared to this company's 500) and received an average PPP loan of $3,525,219 (compared to this company's $6.73M).

Similar Nearby Businesses Who Received PPP Funding:

Sonitrol Services Of New York, Inc.
Syracuse, NY

$318,582 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 5,289 businesses in the "Security Systems Services (except Locksmiths)" industry received a total of $839,803,057.00 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 Rapid Response Monitoring Services Inc.'s reported 500 employees, and received an average PPP loan of $158,783, 98% lower than this company's loan of $6.73M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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/rapid-response-monitoring-services-inc-syracuse-ny