PPP Loan Data — Redline Measuring, Inc, Raleigh, NC
Redline Measuring, Inc is a subchapter s corporation located at 6000 S Downs Dr in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Redline Measuring, Inc in Raleigh, NC received a Paycheck Protection Loan of $25,000 through Quontic Bank, which was approved in May, 2020.
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, Redline Measuring, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Redline Measuring, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Redline Measuring, Inc in Raleigh, NC
6000 S Downs Dr
Raleigh, NC 27603
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Raleigh
In the Raleigh area, 24 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 3) and received an average PPP loan of $145,121 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Tarheel Asphalt & Seal Coating
MRK Renovation LLC
Saf-Cut Concrete Cutting, Inc
Subsurface Construction Company LLC
T & W Contractingllc
Secure Access Services LLC
CM Red LLC
Verify Locating, LLC
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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 8 employees, 167% higher than Redline Measuring, Inc's reported 3 employees, and received an average PPP loan of $86,076, 244% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!