PPP Loan Data — Refrigeration Sales Corp Of Cleveland, Valley View, OH
Refrigeration Sales Corp Of Cleveland
Entity: Subchapter S Corporation
Location: Valley View, OHTweet This • Search All PPP Data
Refrigeration Sales Corp Of Cleveland is a subchapter s corporation located at 9450 Allen Dr in Valley View, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,116,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Refrigeration Sales Corp Of Cleveland in Valley View, OH received a Paycheck Protection Loan of $2.12M through PNC Bank, National Association, 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, Refrigeration Sales Corp Of Cleveland's 2019 payroll expenses are estimated to be at least $10.16M.
Based on their reported 147 jobs retained, this equals an estimated average yearly compensation of $69,097 per employee1
Reported PPP Proceed Usage:
On the PPP application, Refrigeration Sales Corp Of Cleveland reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,116,100
Business Information - Refrigeration Sales Corp Of Cleveland in Valley View, OH
9450 Allen Dr
Valley View, OH 44125
Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers
NAICS code 423720
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Valley View
In the Valley View area, 4 businesses in the "Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 147) and received an average PPP loan of $648,030 (compared to this company's $2.12M).
Similar Nearby Businesses Who Received PPP Funding:
Dynamic Air, Inc
Campbell Equipment Company
Cuyahoga Heights, OH
Dalton Combustion Systems Inc
Industry PPP Comparison Statistics
Nationwide, 4,248 businesses in the "Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers" industry received a total of $720.86M 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 13 employees, 91% lower than Refrigeration Sales Corp Of Cleveland's reported 147 employees, and received an average PPP loan of $169,693, 92% lower than this company's loan of $2.12M.
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