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PPP Loan Data — Red Orange North America Inc, Fort Washington, PA

SBA PPP loan data, payroll data, and salaries for Red Orange North America Inc
PA

Red Orange North America Inc

Entity: Corporation

Industry: All Other Personal Services

Location: Fort Washington, PA

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Red Orange North America Inc is a corporation located at 500 Office Center Dr Ste 400 in Fort Washington, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $68,376.00 in May, 2020.

$ PPP Loan Information
Loan #6323087706

Loan Size:

$68,376

Jobs Retained:

4

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Red Orange North America Inc in Fort Washington, PA received a Paycheck Protection Loan of $68,376 through Bank of America, National Association, which was approved in May, 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Red Orange North America Inc's 2019 payroll expenses are estimated to be at least $328,205.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $82,051 per employee1

Reported PPP Proceed Usage:

On the PPP application, Red Orange North America Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $68,376

Business Information - Red Orange North America Inc in Fort Washington, PA

Red Orange North America Inc
500 Office Center Dr Ste 400
Fort Washington, PA 19034

Business Industry:
All Other Personal Services
NAICS code 812990

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Montgomery County, PA — SBA Office 0303 — Congressional District: PA-04

Similar Companies near Fort Washington

In the Fort Washington area, 9 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $29,447 (compared to this company's $68,376).

Industry PPP Comparison Statistics

Nationwide, 231,022 businesses in the "All Other Personal Services" industry received a total of $5.51B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 3 employees, 25% lower than Red Orange North America Inc's reported 4 employees, and received an average PPP loan of $23,844, 65% lower than this company's loan of $68,376.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/red-orange-north-america-inc-fort-washington-pa