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PPP Loan Data — Ridg-U-Rak, Inc.,
North East, PA
Ridg-U-Rak, Inc.
Entity: Subchapter S Corporation
Industry: All Other Business Support Services
Location: North East, PA
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Ridg-U-Rak, Inc. is a subchapter s corporation located at 120 S Lake Rd in North East, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,787,300.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
312Loan Approved:
2020-04-09Lender:
FIRST NATIONAL BANK OF PENNSYLVANIARidg-U-Rak, Inc. received a Paycheck Protection Loan of $3.79M through FIRST NATIONAL BANK OF PENNSYLVANIA, which was approved in April, 2020.
Based on standard PPP eligibility rules, Ridg-U-Rak, Inc.'s total 2019 payroll expenses were approximately $18.18M in order to qualify for the PPP loan amount received.
Based on their reported 312 jobs retained, this equals an estimated average yearly compensation of $58,266 per employee1.
Business Information - Ridg-U-Rak, Inc. in North East, PA
120 S Lake Rd
North East, PA 16428
Business Industry
All Other Business Support Services (NAICS code 561499)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: PA-16Similar Companies near North East
In the North East area, 24 businesses in the "All Other Business Support Services" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 312) and received an average PPP loan of $185,875 (compared to this company's $3.79M).
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Industry PPP Comparison Statistics
Nationwide, 28,906 businesses in the "All Other Business Support Services" industry received a total of $1,963,852,672.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 98% lower than Ridg-U-Rak, Inc.'s reported 312 employees, and received an average PPP loan of $67,939, 98% lower than this company's loan of $3.79M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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