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PPP Loan Data — Redico, LLC,
Southfield, MI
Redico, LLC
Entity: Limited Liability Company (LLC)
Industry: Commercial and Institutional Building Construction
Location: Southfield, MI
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Redico, LLC is a limited liability company (LLC) located at 1 Towne Square Suite 1600 in Southfield, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,735,900.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
250Loan Approved:
2020-04-09Lender:
THE HUNTINGTON NATIONAL BANKRedico, LLC in Southfield, MI received a Paycheck Protection Loan of $4.74M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Redico, LLC's total 2019 payroll expenses were approximately $22.73M in order to qualify for the PPP loan amount received.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $90,929 per employee1.
Business Information - Redico, LLC in Southfield, MI
1 Towne Square Suite 1600
Southfield, MI 48076
Business Industry
Commercial and Institutional Building Construction (NAICS code 236220)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MI-14Similar Companies near Southfield
In the Southfield area, 4 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 250) and received an average PPP loan of $1,257,854 (compared to this company's $4.74M).
Similar Nearby Businesses Who Received PPP Funding:
DA Real Estate Consulting, LLC
Southfield, MI
Supreme Team Disaster Unit, LLC
Southfield, MI
Above The Rest General Construction Inc.
Southfield, MI
Industry PPP Comparison Statistics
Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 13 employees, 95% lower than Redico, LLC's reported 250 employees, and received an average PPP loan of $203,235, 96% lower than this company's loan of $4.74M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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