PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Rihm Motor Company, South Saint Paul, MN

SBA PPP loan data, payroll data, and salaries for Rihm Motor Company
MN

Rihm Motor Company

Entity: Subchapter S Corporation

Industry: Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing

Location: South Saint Paul, MN

Search All PPP Data

Rihm Motor Company is a subchapter s corporation located at 425 Concord Street S in South Saint Paul, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,384,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.38M

Jobs Retained:

268

Loan Approved:

2020-04-06

Lender:

MERCHANTS BANK, NATIONAL ASSOCIATION

Rihm Motor Company received a Paycheck Protection Loan of $3.38M through MERCHANTS BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Rihm Motor Company's total 2019 payroll expenses were approximately $16.24M in order to qualify for the PPP loan amount received.

Based on their reported 268 jobs retained, this equals an estimated average yearly compensation of $60,613 per employee1.

Because the loan received by Rihm Motor Company is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Rihm Motor Company in South Saint Paul, MN

Rihm Motor Company
425 Concord Street S
South Saint Paul, MN 55075

Business Industry

Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing (NAICS code 532120)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-02

Similar Companies near South Saint Paul

In the South Saint Paul area, 2 businesses in the "Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing" industry received a PPP loan. These local businesses reported an average of 135 employees (compared to this company's 268) and received an average PPP loan of $1,702,500 (compared to this company's $3.38M).

Similar Nearby Businesses Who Received PPP Funding:

Twin City Truck And Van Rental, Inc.
South Saint Paul, MN

$20,800 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 1,428 businesses in the "Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing" industry received a total of $223,290,538.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 12 employees, 96% lower than Rihm Motor Company's reported 268 employees, and received an average PPP loan of $156,366, 95% lower than this company's loan of $3.38M.

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.

Search FederalPay's Full PPP Loan Database

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/rihm-motor-company-south-saint-paul-mn