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PPP Loan Data — Rising Sun Developing, Inc,
Lexington, KY
Rising Sun Developing, Inc
Entity: Subchapter S Corporation
Industry: Land Subdivision
Location: Lexington, KY
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Rising Sun Developing, Inc is a subchapter s corporation located at 2555 Palumbo Dr in Lexington, Kentucky that received a Coronavirus-related PPP loan from the SBA of $2,708,333.00 in May, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
395Loan Approved:
2020-05-01Lender:
U.S. BANK, NATIONAL ASSOCIATIONRising Sun Developing, Inc received a Paycheck Protection Loan of $2.71M through U.S. BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Rising Sun Developing, Inc's total 2019 payroll expenses were approximately $13M in order to qualify for the PPP loan amount received.
Based on their reported 395 jobs retained, this equals an estimated average yearly compensation of $32,911 per employee1.
Business Information - Rising Sun Developing, Inc in Lexington, KY
2555 Palumbo Dr
Lexington, KY 40509
Business Industry
Land Subdivision (NAICS code 237210)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: KY-06Similar Companies near Lexington
In the Lexington area, 2 businesses in the "Land Subdivision" industry received a PPP loan. These local businesses reported an average of 204 employees (compared to this company's 395) and received an average PPP loan of $1,426,367 (compared to this company's $2.71M).
Similar Nearby Businesses Who Received PPP Funding:
Commonwealth Designs, Inc
Lexington, KY
Industry PPP Comparison Statistics
Nationwide, 3,472 businesses in the "Land Subdivision" industry received a total of $375,266,179.00 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 9 employees, 98% lower than Rising Sun Developing, Inc's reported 395 employees, and received an average PPP loan of $108,084, 96% lower than this company's loan of $2.71M.
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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