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PPP Loan Data — RX Optical Laboratories, Inc,
Kalamazoo, 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:
Jobs Retained:
321Loan Approved:
2020-04-10Lender:
TCF NATIONAL BANKRX 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.
Business Information - RX Optical Laboratories, Inc in Kalamazoo, MI
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-06Industry 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.
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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