PPP Loan Data — Rice Muzzle Loading Barrel Co, Mocksville, NC
Rice Muzzle Loading Barrel Co is a corporation located at 555 Ijames Church Rd in Mocksville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First-Citizens Bank & Trust Company
Rice Muzzle Loading Barrel Co in Mocksville, NC received a Paycheck Protection Loan of $25,200 through First-Citizens Bank & Trust Company, which was approved in May, 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 April, 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, Rice Muzzle Loading Barrel Co's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,192 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rice Muzzle Loading Barrel Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Rice Muzzle Loading Barrel Co in Mocksville, NC
555 Ijames Church Rd
Mocksville, NC 27028
Industrial Supplies Merchant Wholesalers
NAICS code 423840
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Mocksville
In the Mocksville area, 2 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 5) and received an average PPP loan of $53,319 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 6,397 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $1.02B 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, 160% higher than Rice Muzzle Loading Barrel Co's reported 5 employees, and received an average PPP loan of $160,215, 536% higher than this company's loan of $25,200.
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Footnotes & Information
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