PPP Loan Data — RMG Inc, Washington, DC
RMG Inc is a subchapter s corporation located at 1453 Pennsylvania Av. Se in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Capital One, National Association
RMG Inc in Washington, DC received a Paycheck Protection Loan of $25,100 through Capital One, 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 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, RMG Inc's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,096 per employee1
Reported PPP Proceed Usage:
On the PPP application, RMG Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - RMG Inc in Washington, DC
1453 Pennsylvania Av. Se
Washington, DC 20003
Beer, Wine, and Liquor Stores
NAICS code 445310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Washington
In the Washington area, 25 businesses in the "Beer, Wine, and Liquor Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $31,127 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Sky Globe Inc
Sylvia And David Industries Inc
LIM Enterprises Corp
Wine Root, Inc
Washington, D.c., DC
328 Kentucky Avenue Ne, DC
The Mckenzie Group LLC
Vitis Fine Wines & Spirits Inc
Industry PPP Comparison Statistics
Nationwide, 19,110 businesses in the "Beer, Wine, and Liquor Stores" industry received a total of $604.2M 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, 20% higher than RMG Inc's reported 5 employees, and received an average PPP loan of $31,617, 26% higher than this company's loan of $25,100.
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Footnotes & Information
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