PPP Loan Data — Ribbon World Inc, El Paso, TX
Ribbon World Inc
Location: El Paso, TXTweet This • Search All PPP Data
Ribbon World Inc is a corporation located at 4020 Monroe Ave in El Paso, Texas that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
The company has reported itself as an Asian female owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Ribbon World Inc in El Paso, TX received a Paycheck Protection Loan of $25,300 through WestStar Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 2021.
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, Ribbon World Inc's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ribbon World Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Ribbon World Inc in El Paso, TX
4020 Monroe Ave
El Paso, TX 79930
Drycleaning and Laundry Services (except Coin-Operated)
NAICS code 812320
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near El Paso
In the El Paso area, 2 businesses in the "Drycleaning and Laundry Services (except Coin-Operated)" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $23,067 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
El Paso, TX
Industry PPP Comparison Statistics
Nationwide, 29,150 businesses in the "Drycleaning and Laundry Services (except Coin-Operated)" industry received a total of $1.13B 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, 133% higher than Ribbon World Inc's reported 3 employees, and received an average PPP loan of $38,609, 53% higher than this company's loan of $25,300.
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