PPP Loan Data — Righty-O Inc, Hamburg, NJ
Righty-O Inc is a subchapter s corporation located at 123 Route 23 South in Hamburg, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,083.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Righty-O Inc in Hamburg, NJ received a Paycheck Protection Loan of $25,083 through Lakeland Bank, 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, Righty-O Inc's 2019 payroll expenses are estimated to be at least $120,398.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,133 per employee1
Reported PPP Proceed Usage:
On the PPP application, Righty-O Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,083
Business Information - Righty-O Inc in Hamburg, NJ
123 Route 23 South
Hamburg, NJ 7419
All Other General Merchandise Stores
NAICS code 452319
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 11,020 businesses in the "All Other General Merchandise Stores" industry received a total of $376.19M 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, 67% higher than Righty-O Inc's reported 3 employees, and received an average PPP loan of $34,137, 36% higher than this company's loan of $25,083.
FederalPay's PPP Information Policy
Footnotes & Information
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