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PPP Loan Data — R.t.r Financial Services, Inc,
Staten Island, NY
R.t.r Financial Services, Inc
Entity: Subchapter S Corporation
Industry: Other Accounting Services
Location: Staten Island, NY
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R.t.r Financial Services, Inc is a subchapter s corporation located at 2 Teleport Dr in Staten Island, New York that received a Coronavirus-related PPP loan from the SBA of $2,469,545.00 in April, 2020.
$
PPP Loan Information
Loan #3018157202
Loan Size:
Jobs Retained:
211Loan Approved:
2020-04-16Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationR.t.r Financial Services, Inc in Staten Island, NY received a Paycheck Protection Loan of $2.47M through JPMorgan Chase 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.
Read MoreUnderstanding 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.
Read MoreBased 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, R.t.r Financial Services, Inc's 2019 payroll expenses are estimated to be at least $11.85M.
Based on their reported 211 jobs retained, this equals an estimated average yearly compensation of $56,179 per employee1
Reported PPP Proceed Usage:
On the PPP application, R.t.r Financial Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,249,804
- Utilities: $9,371
- Rent: $127,993
- Debt Interest: $82,377
Business Information - R.t.r Financial Services, Inc in Staten Island, NY
2 Teleport Dr
Staten Island, NY 10311
Business Industry:
Other Accounting Services
NAICS code 541219
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 4 other businesses that received a PPP loan registered to the same address as R.t.r Financial Services, Inc.
Kenneth Eng Financial Services Represent-Sba Small 7A Term
Unknown
Metropolitan Specialty Risk LLC
Insurance Agencies and Brokerages
Michael Perinelli
Investment Advice
Integration Charter Schools
Elementary and Secondary Schools
Similar Companies near Staten Island
In the Staten Island area, 17 businesses in the "Other Accounting Services" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 211) and received an average PPP loan of $159,950 (compared to this company's $2.47M).
Similar Nearby Businesses Who Received PPP Funding:
Lisa Marchese
Staten Island, NY
George Calivis
Staten Island, NY
Excellent Accounting & Tax Services Inc
Staten Island, NY
Kalum Adihetti
Staten Island, NY
M & L Starslink Inc
Staten Island, NY
Malca Lougassy Szmigielski
Staten Island, NY
Gemini Medical Billing Services, LLC
Staten Island, NY
Manning Accounting Services Inc
Staten Island, NY
Industry PPP Comparison Statistics
Nationwide, 63,711 businesses in the "Other Accounting Services" industry received a total of $2.02B 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 3 employees, 99% lower than R.t.r Financial Services, Inc's reported 211 employees, and received an average PPP loan of $31,751, 99% lower than this company's loan of $2.47M.
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.
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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