PPP Loan Data — RCS Security Inc, Inwood, WV
RCS Security Inc is a subchapter s corporation located at 5741 Tabler Station Rd in Inwood, West Virginia that received a Coronavirus-related PPP loan from the SBA of $46,000.00 in April, 2020.
The company has reported itself as a White 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:City National Bank of West Virginia
RCS Security Inc in Inwood, WV received a Paycheck Protection Loan of $46,000 through City National Bank of West Virginia, 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 March, 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, RCS Security Inc's 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, RCS Security Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $40,000
- Rent: $2,400
- Health Care: $1,600
- Debt Interest: $2,000
Business Information - RCS Security Inc in Inwood, WV
5741 Tabler Station Rd
Inwood, WV 25428
NAICS code 922160
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
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, 2,193 businesses in the "Fire Protection" industry received a total of $291.23M 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 13 employees, 225% higher than RCS Security Inc's reported 4 employees, and received an average PPP loan of $132,800, 189% higher than this company's loan of $46,000.
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Footnotes & Information
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