PPP Loan Data — Reed, Inc, Leesburg, VA
Reed, Inc is a subchapter s corporation located at 19440 Golf Vista Plz Suite 230 in Leesburg, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,004,900.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 142 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Reed, Inc in Leesburg, VA received a Paycheck Protection Loan of $2M through United Bank, which was approved in April, 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, Reed, Inc's 2019 payroll expenses are estimated to be at least $9.62M.
Based on their reported 142 jobs retained, this equals an estimated average yearly compensation of $67,771 per employee1
Reported PPP Proceed Usage:
On the PPP application, Reed, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,004,900
Business Information - Reed, Inc in Leesburg, VA
19440 Golf Vista Plz Suite 230
Leesburg, VA 20176
Human Resources Consulting Services
NAICS code 541612
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Leesburg
In the Leesburg area, 8 businesses in the "Human Resources Consulting Services" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 142) and received an average PPP loan of $794,575 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Your Recruiting Company, Inc
8 HR Solutions
Mcdermott HR Solutions LLC
Industry PPP Comparison Statistics
Nationwide, 10,577 businesses in the "Human Resources Consulting Services" industry received a total of $842.84M 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 7 employees, 95% lower than Reed, Inc's reported 142 employees, and received an average PPP loan of $79,686, 96% lower than this company's loan of $2M.
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Footnotes & Information
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