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PPP Loan Data — R.K. Miles, Inc., Manchester Center, VT

SBA PPP loan data, payroll data, and salaries for R.K. Miles, Inc.
VT

R.K. Miles, Inc.

Entity: Subchapter S Corporation

Industry: Other Building Material Dealers

Location: Manchester Center, VT

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R.K. Miles, Inc. is a subchapter s corporation located at P.o Box 1125 in Manchester Center, Vermont that received a Coronavirus-related PPP loan from the SBA of $2,814,560.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.81M

Jobs Retained:

201

Loan Approved:

2020-04-08

Lender:

COMMUNITY BANK, NATIONAL ASSOCIATION

R.K. Miles, Inc. received a Paycheck Protection Loan of $2.81M through COMMUNITY BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, R.K. Miles, Inc.'s total 2019 payroll expenses were approximately $13.51M in order to qualify for the PPP loan amount received.

Based on their reported 201 jobs retained, this equals an estimated average yearly compensation of $67,213 per employee1.

Because the loan received by R.K. Miles, Inc. 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 - R.K. Miles, Inc. in Manchester Center, VT

R.K. Miles, Inc.
P.o Box 1125
Manchester Center, VT 5255

Business Industry

Other Building Material Dealers (NAICS code 444190)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VT-

Industry PPP Comparison Statistics

Nationwide, 7,624 businesses in the "Other Building Material Dealers" industry received a total of $1,126,038,672.00 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, 94% lower than R.K. Miles, Inc.'s reported 201 employees, and received an average PPP loan of $147,697, 95% lower than this company's loan of $2.81M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/rk-miles-inc-manchester-center-vt