PPP Loan Data — Red River Radio, Inc, Heber Springs, AR
Red River Radio, Inc is a corporation located at 509 N 2nd St. Ste. B in Heber Springs, Arkansas that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
The company has reported itself as a female 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:First National Bank
Red River Radio, Inc in Heber Springs, AR received a Paycheck Protection Loan of $25,300 through First National Bank, 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 January, 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, Red River Radio, Inc's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,360 per employee1
Reported PPP Proceed Usage:
On the PPP application, Red River Radio, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,975
- Utilities: $3,163
- Rent: $3,163
Business Information - Red River Radio, Inc in Heber Springs, AR
509 N 2nd St. Ste. B
Heber Springs, AR 72543
NAICS code 515112
Business Owner Demographics
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Heber Springs
In the Heber Springs area, 4 businesses in the "Radio Stations" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 4) and received an average PPP loan of $19,350 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Koou , Inc
Bragg Broadcasting, Inc
Industry PPP Comparison Statistics
Nationwide, 3,733 businesses in the "Radio Stations" industry received a total of $451.76M 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 14 employees, 250% higher than Red River Radio, Inc's reported 4 employees, and received an average PPP loan of $121,017, 378% higher than this company's loan of $25,300.
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Footnotes & Information
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