PPP Loan Data — Rimco LLC, San Juan, PR
Location: San Juan, PRTweet This • Search All PPP Data
Rimco LLC is a corporation located at Marginal Jf Kennedy in San Juan, Puerto Rico that received a Coronavirus-related PPP loan from the SBA of $1,735,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Banco Popular de Puerto Rico
Rimco LLC in San Juan, PR received a Paycheck Protection Loan of $1.74M through Banco Popular de Puerto Rico, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.
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, Rimco LLC's 2019 payroll expenses are estimated to be at least $8.33M.
Based on their reported 162 jobs retained, this equals an estimated average yearly compensation of $51,407 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rimco LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,628,300
- Utilities: $65,200
- Rent: $9,000
- Debt Interest: $32,500
Business Information - Rimco LLC in San Juan, PR
Marginal Jf Kennedy
San Juan, PR 920
Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers
NAICS code 423810
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, 3,476 businesses in the "Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers" industry received a total of $591.54M 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 13 employees, 92% lower than Rimco LLC's reported 162 employees, and received an average PPP loan of $170,179, 90% lower than this company's loan of $1.74M.
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Footnotes & Information
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