PPP Loan Data — Red Run Corporation, Baltimore, MD
Red Run Corporation
Entity: Subchapter S Corporation
Location: Baltimore, MDTweet This • Search All PPP Data
Red Run Corporation is a subchapter s corporation located at 2401 Belair Rd in Baltimore, Maryland that received a Coronavirus-related PPP loan from the SBA of $1,634,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Red Run Corporation in Baltimore, MD received a Paycheck Protection Loan of $1.63M through Orrstown 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 May, 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 Run Corporation's 2019 payroll expenses are estimated to be at least $7.85M.
Based on their reported 318 jobs retained, this equals an estimated average yearly compensation of $24,676 per employee1
Reported PPP Proceed Usage:
On the PPP application, Red Run Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,634,800
Business Information - Red Run Corporation in Baltimore, MD
2401 Belair Rd
Baltimore, MD 21213
Supermarkets and Other Grocery (except Convenience) Stores
NAICS code 445110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Baltimore
In the Baltimore area, 12 businesses in the "Supermarkets and Other Grocery (except Convenience) Stores" industry received a PPP loan. These local businesses reported an average of 40 employees (compared to this company's 318) and received an average PPP loan of $230,894 (compared to this company's $1.63M).
Similar Nearby Businesses Who Received PPP Funding:
York Road Grocery Inc
N & S Grocery Store LLC
Hamilton Corp Of Maryland Inc
Wabash Markets Of Maryland Inc
HEX Ferments LLC
Khawar J LLC
Govans Deli & Groceries Corp
Industry PPP Comparison Statistics
Nationwide, 25,599 businesses in the "Supermarkets and Other Grocery (except Convenience) Stores" industry received a total of $2.27B 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 18 employees, 94% lower than Red Run Corporation's reported 318 employees, and received an average PPP loan of $88,740, 95% lower than this company's loan of $1.63M.
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Footnotes & Information
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