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PPP Loan Data — Ray Mart Inc, Beaumont, TX

SBA PPP loan data, payroll data, and salaries for Ray Mart Inc
TX

Ray Mart Inc

Entity: Corporation

Industry: Home Centers

Location: Beaumont, TX

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Ray Mart Inc is a corporation located at 7220 Eastex Frwy in Beaumont, Texas that received a Coronavirus-related PPP loan from the SBA of $2,745,540.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 254 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.75M

Jobs Retained:

254

Loan Approved:

2020-04-08

Lender:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

Ray Mart Inc in Beaumont, TX received a Paycheck Protection Loan of $2.75M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Ray Mart Inc's total 2019 payroll expenses were approximately $13.18M in order to qualify for the PPP loan amount received.

Based on their reported 254 jobs retained, this equals an estimated average yearly compensation of $51,884 per employee1.

Because the loan received by Ray Mart 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 - Ray Mart Inc in Beaumont, TX

Ray Mart Inc
7220 Eastex Frwy
Beaumont, TX 77708

Business Industry

Home Centers (NAICS code 444110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: TX-14

Industry PPP Comparison Statistics

Nationwide, 2,392 businesses in the "Home Centers" industry received a total of $390,606,472.00 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 15 employees, 94% lower than Ray Mart Inc's reported 254 employees, and received an average PPP loan of $163,297, 94% lower than this company's loan of $2.75M.

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.

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/ray-mart-inc-beaumont-tx