PPP Loan Data — RMS Of Ohio, Inc, Worthington, OH
RMS Of Ohio, Inc
Location: Worthington, OHTweet This • Search All PPP Data
RMS Of Ohio, Inc is a corporation located at 250 E Wilson Bridge Rd, Suite 205 in Worthington, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,747,660.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 270 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:WesBanco Bank, Inc.
RMS Of Ohio, Inc in Worthington, OH received a Paycheck Protection Loan of $1.75M through WesBanco Bank, Inc., which was approved in April, 2020.
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, RMS Of Ohio, Inc's 2019 payroll expenses are estimated to be at least $8.39M.
Based on their reported 270 jobs retained, this equals an estimated average yearly compensation of $31,070 per employee1
Reported PPP Proceed Usage:
On the PPP application, RMS Of Ohio, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,747,660
Business Information - RMS Of Ohio, Inc in Worthington, OH
250 E Wilson Bridge Rd, Suite 205
Worthington, OH 43085
Services for the Elderly and Persons with Disabilities
NAICS code 624120
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Worthington
In the Worthington area, 5 businesses in the "Services for the Elderly and Persons with Disabilities" industry received a PPP loan. These local businesses reported an average of 80 employees (compared to this company's 270) and received an average PPP loan of $543,629 (compared to this company's $1.75M).
Similar Nearby Businesses Who Received PPP Funding:
Columbus Mobility Specialists
Residential Management Systems, Inc
RMS Management, Inc
Industry PPP Comparison Statistics
Nationwide, 13,270 businesses in the "Services for the Elderly and Persons with Disabilities" industry received a total of $2.13B 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 27 employees, 90% lower than RMS Of Ohio, Inc's reported 270 employees, and received an average PPP loan of $160,784, 91% lower than this company's loan of $1.75M.
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