RKL LLP in Lancaster, PA - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — RKL LLP, Lancaster, PA

RKL LLP

Entity: Limited Liability Partnership

Industry: Offices of Certified Public Accountants

Location: Lancaster, PA

RKL LLP is a limited liability partnership located at 1800 Fruitville Pike in Lancaster, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $8,752,378.00 in April, 2020.

$ PPP Loan Information
Loan #5804777000

Loan Size:

$8.75M

Jobs Retained:

452

Loan Approved:

2020-04-06

Loan Status:

Paid in Full or Forgiven

Lender:

Fulton Bank, National Association

RKL LLP in Lancaster, PA received a Paycheck Protection Loan of $8.75M through Fulton Bank, National Association, 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 July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

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, RKL LLP's 2019 payroll expenses are estimated to be at least $42.01M.

Based on their reported 452 jobs retained, this equals an estimated average yearly compensation of $92,946 per employee¹

Reported PPP Proceed Usage:

On the PPP application, RKL LLP reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $6,564,284
Utilities: $1,094,047
Health Care: $1,094,047

Because the loan received by RKL LLP 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 - RKL LLP in Lancaster, PA

RKL LLP
1800 Fruitville Pike
Lancaster, PA 17601

Business Industry:
Offices of Certified Public Accountants
NAICS code 541211

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Lancaster County, PA — SBA Office 0303 — Congressional District: PA-11

Similar Companies near Lancaster

In the Lancaster area, 19 businesses in the "Offices of Certified Public Accountants" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 452) and received an average PPP loan of $668,400 (compared to this company's $8.75M).

Similar Nearby Businesses Who Received PPP Funding:

Killian Tax Accounting & Payroll LLC
Lancaster, PA

$21,293 PPP Loan

Hatter Harris & Beittel LLP
Lancaster, PA

$144,967 PPP Loan

Stutz Arment LLP
Lancaster, PA

$10,300 PPP Loan

Ross Buehler Falk & Company, Inc
Lancaster, PA

$256,511 PPP Loan

Rocka Services LLC
Lancaster, PA

$14,475 PPP Loan

Manada Tax Service PC
Lancaster, PA

$14,200 PPP Loan

Trout, Ebersole & Groff LLP
Lancaster, PA

$1.9M PPP Loan

Brian Gaskill
Lancaster, PA

$19,479 PPP Loan

Gary Ziffer
Lancaster, PA

$20,833 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 56,839 businesses in the "Offices of Certified Public Accountants" industry received a total of $4.21B 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 6 employees, 99% lower than RKL LLP's reported 452 employees, and received an average PPP loan of $74,011, 99% lower than this company's loan of $8.75M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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