PPP Loan Data — RPM Freight Systems LLC, Royal Oak, MI
RPM Freight Systems LLC is a limited liability company (LLC) located at 301 W 4th St in Royal Oak, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,583,762.00 in April, 2020.
$ PPP Loan Information
Lender:CIBC BANK USA
RPM Freight Systems LLC in Royal Oak, MI received a Paycheck Protection Loan of $2.58M through CIBC BANK USA, which was approved in April, 2020.
Based on standard PPP eligibility rules, RPM Freight Systems LLC's total 2019 payroll expenses were approximately $12.4M in order to qualify for the PPP loan amount received.
Based on their reported 188 jobs retained, this equals an estimated average yearly compensation of $65,968 per employee1.
Business Information - RPM Freight Systems LLC in Royal Oak, MI
301 W 4th St
Royal Oak, MI 48067
Freight Transportation Arrangement (NAICS code 488510)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MI-09
Similar Companies near Royal Oak
In the Royal Oak area, 4 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 188) and received an average PPP loan of $692,711 (compared to this company's $2.58M).
Similar Nearby Businesses Who Received PPP Funding:
RPM Transportation Management, Inc.
Royal Oak, MI
JB Expeditig LLC
Royal Oak, MI
Industry PPP Comparison Statistics
Nationwide, 10,632 businesses in the "Freight Transportation Arrangement" industry received a total of $1,273,457,640.00 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 10 employees, 95% lower than RPM Freight Systems LLC's reported 188 employees, and received an average PPP loan of $119,776, 95% lower than this company's loan of $2.58M.
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Footnotes & Information
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