PPP Loan Data — Richard G Jennings III Enterprises, Inc, Cashiers, NC
Richard G Jennings III Enterprises, Inc is a subchapter s corporation located at 2897 Highway 64 East in Cashiers, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,153,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First National Bank of Pennsylvania
Richard G Jennings III Enterprises, Inc in Cashiers, NC received a Paycheck Protection Loan of $2.15M through First National Bank of Pennsylvania, 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, Richard G Jennings III Enterprises, Inc's 2019 payroll expenses are estimated to be at least $10.34M.
Based on their reported 196 jobs retained, this equals an estimated average yearly compensation of $52,731 per employee1
Reported PPP Proceed Usage:
On the PPP application, Richard G Jennings III Enterprises, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,153,200
Business Information - Richard G Jennings III Enterprises, Inc in Cashiers, NC
2897 Highway 64 East
Cashiers, NC 28717
Other Building Material Dealers
NAICS code 444190
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Cashiers
In the Cashiers area, 3 businesses in the "Other Building Material Dealers" industry received a PPP loan. These local businesses reported an average of 66 employees (compared to this company's 196) and received an average PPP loan of $726,169 (compared to this company's $2.15M).
Similar Nearby Businesses Who Received PPP Funding:
Cashiers Pump & Plumbing Supply
Industry PPP Comparison Statistics
Nationwide, 11,057 businesses in the "Other Building Material Dealers" industry received a total of $1.4B 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 12 employees, 94% lower than Richard G Jennings III Enterprises, Inc's reported 196 employees, and received an average PPP loan of $126,460, 94% lower than this company's loan of $2.15M.
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Footnotes & Information
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