PPP Loan Data — Reaves Engraving Enterprises, Inc, Laurinburg, NC
Reaves Engraving Enterprises, Inc is a corporation located at 311 S. King St in Laurinburg, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,477.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Reaves Engraving Enterprises, Inc in Laurinburg, NC received a Paycheck Protection Loan of $25,477 through Truist Bank d/b/a Branch Banking & Trust Co, 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, Reaves Engraving Enterprises, Inc's 2019 payroll expenses are estimated to be at least $122,290.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,382 per employee1
Reported PPP Proceed Usage:
On the PPP application, Reaves Engraving Enterprises, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,477
Business Information - Reaves Engraving Enterprises, Inc in Laurinburg, NC
311 S. King St
Laurinburg, NC 28352
Commercial Printing (except Screen and Books)
NAICS code 323111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Laurinburg
In the Laurinburg area, 3 businesses in the "Commercial Printing (except Screen and Books)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $12,736 (compared to this company's $25,477).
Similar Nearby Businesses Who Received PPP Funding:
Laurel Hill, NC
MD Sledge, Inc
Industry PPP Comparison Statistics
Nationwide, 23,988 businesses in the "Commercial Printing (except Screen and Books)" industry received a total of $3.07B 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 12 employees, 100% higher than Reaves Engraving Enterprises, Inc's reported 6 employees, and received an average PPP loan of $128,160, 403% higher than this company's loan of $25,477.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!