PPP Loan Data — RG Diamonds LLC, Richboro, PA
RG Diamonds LLC is a limited liability company (LLC) located in Richboro, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
RG Diamonds LLC in Richboro, PA received a Paycheck Protection Loan of $25,000 through Bank of America, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, RG Diamonds LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - RG Diamonds LLC in Richboro, PA
* Full address is redacted to protect the privacy of individuals.
NAICS code 448310
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Richboro
In the Richboro area, 3 businesses in the "Jewelry Stores" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 1) and received an average PPP loan of $179,035 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Time After Time Enterprises
R.g. Diamond And Jewelry Inc
Industry PPP Comparison Statistics
Nationwide, 22,187 businesses in the "Jewelry Stores" industry received a total of $956.02M 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 5 employees, 400% higher than RG Diamonds LLC's reported 1 employees, and received an average PPP loan of $43,089, 72% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
Have FederalPay.org's open data tools been valuable? Consider donating!