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PPP Loan Data — RX Optical Laboratories, Inc, Kalamazoo, MI

SBA PPP loan data, payroll data, and salaries for RX Optical Laboratories, Inc
MI

RX Optical Laboratories, Inc

Entity: Subchapter S Corporation

Industry: Optical Instrument and Lens Manufacturing

Location: Kalamazoo, MI

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RX Optical Laboratories, Inc is a subchapter s corporation located at 1825 S. Park St in Kalamazoo, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,452,408.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 321 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.45M

Jobs Retained:

321

Loan Approved:

2020-04-10

Lender:

TCF NATIONAL BANK

RX Optical Laboratories, Inc in Kalamazoo, MI received a Paycheck Protection Loan of $3.45M through TCF NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, RX Optical Laboratories, Inc's total 2019 payroll expenses were approximately $16.57M in order to qualify for the PPP loan amount received.

Based on their reported 321 jobs retained, this equals an estimated average yearly compensation of $51,625 per employee1.

Because the loan received by RX Optical Laboratories, Inc 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 - RX Optical Laboratories, Inc in Kalamazoo, MI

RX Optical Laboratories, Inc
1825 S. Park St
Kalamazoo, MI 49001

Business Industry

Optical Instrument and Lens Manufacturing (NAICS code 333314)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: MI-06

Industry PPP Comparison Statistics

Nationwide, 506 businesses in the "Optical Instrument and Lens Manufacturing" industry received a total of $108,527,514.00 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 15 employees, 95% lower than RX Optical Laboratories, Inc's reported 321 employees, and received an average PPP loan of $214,481, 94% lower than this company's loan of $3.45M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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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Source: www.federalpay.org/paycheck-protection-program/rx-optical-laboratories-inc-kalamazoo-mi