PPP Loan Data — Red Zone Investment Group, Dallas, TX
Red Zone Investment Group is a subchapter s corporation located at 9035 Forest Ln #108 in Dallas, Texas that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Home Bank
Red Zone Investment Group in Dallas, TX received a Paycheck Protection Loan of $25,100 through First Home 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 June, 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 Zone Investment Group's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,096 per employee1
Reported PPP Proceed Usage:
On the PPP application, Red Zone Investment Group reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - Red Zone Investment Group in Dallas, TX
9035 Forest Ln #108
Dallas, TX 75243
Consumer Electronics and Appliances Rental
NAICS code 532210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,459 businesses in the "Consumer Electronics and Appliances Rental" industry received a total of $134.43M 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 9 employees, 80% higher than Red Zone Investment Group's reported 5 employees, and received an average PPP loan of $92,138, 267% higher than this company's loan of $25,100.
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Footnotes & Information
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