DAVID L. RYDER CONTRACTING,INC.
PPP Loan approved Apr 28, 2020 through City National Bank of West Virginia
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $123,374.00 | 80.0% |
| Utilities | $4,000.00 | 2.6% |
| Mortgage Interest | $26,826.00 | 17.4% |
About This Loan
DAVID L. RYDER CONTRACTING,INC. received a PPP loan of $154,200 approved on Apr 28, 2020. The loan was originated by City National Bank of West Virginia.
DAVID L. RYDER CONTRACTING,INC. is a corporation located in WHITE SULPHUR SPRINGS, West Virginia. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Agriculture, Forestry, Fishing and Hunting industry (NAICS 113310), part of the Agriculture, Forestry, Fishing and Hunting sector of the economy. The applicant reported 8 jobs as retained through this loan.
The SBA forgave $155,223.72 of this loan — 100.7% of the total approved amount, with forgiveness recorded on Dec 31, 2020. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $123,374 to payroll, $4,000 to utilities, $26,826 to mortgage interest. The payroll component represents 80.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in West Virginia, visit the West Virginia page. To compare this loan with others in the same industry, see the Agriculture, Forestry, Fishing and Hunting industry page.