PPP Loan Data — Recruiter Exchange, Inc, Richardson, TX
Recruiter Exchange, Inc is a corporation located at 1900 Jay Ell Dr in Richardson, Texas that received a Coronavirus-related PPP loan from the SBA of $1,519,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Recruiter Exchange, Inc in Richardson, TX received a Paycheck Protection Loan of $1.52M through Comerica Bank, 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, Recruiter Exchange, Inc's 2019 payroll expenses are estimated to be at least $7.29M.
Based on their reported 318 jobs retained, this equals an estimated average yearly compensation of $22,928 per employee1
Reported PPP Proceed Usage:
On the PPP application, Recruiter Exchange, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,215,200
- Rent: $303,800
Business Information - Recruiter Exchange, Inc in Richardson, TX
1900 Jay Ell Dr
Richardson, TX 75081
Temporary Help Services
NAICS code 561320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Richardson
In the Richardson area, 9 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 144 employees (compared to this company's 318) and received an average PPP loan of $807,571 (compared to this company's $1.52M).
Similar Nearby Businesses Who Received PPP Funding:
Starwood Staffing LLC
No 1 Swb Inc
Source Personnel LLC
REX Personnel, LLC
Odell & Associates, Inc
AVA Consulting Group, Inc
REX Staffing, LLC
Industry PPP Comparison Statistics
Nationwide, 8,994 businesses in the "Temporary Help Services" industry received a total of $3.65B 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 51 employees, 84% lower than Recruiter Exchange, Inc's reported 318 employees, and received an average PPP loan of $405,841, 73% lower than this company's loan of $1.52M.
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Footnotes & Information
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