PPP Loan Data — Riley Architect Services, PLLC, Mayfield, KY
Riley Architect Services, PLLC is a corporation located at 101 N 7th Street Suite 1 in Mayfield, Kentucky that received a Coronavirus-related PPP loan from the SBA of $25,320.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Riley Architect Services, PLLC in Mayfield, KY received a Paycheck Protection Loan of $25,320 through Cross River Bank, which was approved in June, 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, Riley Architect Services, PLLC's 2019 payroll expenses are estimated to be at least $121,536.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,512 per employee1
Reported PPP Proceed Usage:
On the PPP application, Riley Architect Services, PLLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,320
Business Information - Riley Architect Services, PLLC in Mayfield, KY
101 N 7th Street Suite 1
Mayfield, KY 42066
NAICS code 541310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 29,037 businesses in the "Architectural Services" industry received a total of $3.76B 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 8 employees, 167% higher than Riley Architect Services, PLLC's reported 3 employees, and received an average PPP loan of $129,489, 411% higher than this company's loan of $25,320.
FederalPay's PPP Information Policy
Footnotes & Information
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