PPP Loan Data — Rental Concepts LLC, Springdale, AR
Rental Concepts LLC is a limited liability company (LLC) located at 767 S 48th St Ste B in Springdale, Arkansas that received a Coronavirus-related PPP loan from the SBA of $2,417,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:INTRUST Bank, National Association
Rental Concepts LLC in Springdale, AR received a Paycheck Protection Loan of $2.42M through INTRUST 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, Rental Concepts LLC's 2019 payroll expenses are estimated to be at least $11.6M.
Based on their reported 235 jobs retained, this equals an estimated average yearly compensation of $49,379 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rental Concepts LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,417,500
Business Information - Rental Concepts LLC in Springdale, AR
767 S 48th St Ste B
Springdale, AR 72762
All Other Consumer Goods Rental
NAICS code 532289
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Springdale
In the Springdale area, 2 businesses in the "All Other Consumer Goods Rental" industry received a PPP loan. These local businesses reported an average of 121 employees (compared to this company's 235) and received an average PPP loan of $1,247,550 (compared to this company's $2.42M).
Similar Nearby Businesses Who Received PPP Funding:
Rental Concepts West LLC
Industry PPP Comparison Statistics
Nationwide, 5,448 businesses in the "All Other Consumer Goods Rental" industry received a total of $379.38M 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, 97% lower than Rental Concepts LLC's reported 235 employees, and received an average PPP loan of $69,637, 97% lower than this company's loan of $2.42M.
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Footnotes & Information
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