PPP Loan Data — Chattanooga Hardwood Center,Inc, Chattanooga, TN
Chattanooga Hardwood Center,Inc
Location: Chattanooga, TNTweet This • Search All PPP Data
Chattanooga Hardwood Center,Inc is a corporation located at 2420 East Main Street in Chattanooga, Tennessee that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Chattanooga Hardwood Center,Inc in Chattanooga, TN received a Paycheck Protection Loan of $25,000 through Regions Bank, which was approved in June, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based 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, Chattanooga Hardwood Center,Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Chattanooga Hardwood Center,Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Chattanooga Hardwood Center,Inc in Chattanooga, TN
2420 East Main Street
Chattanooga, TN 37404
Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers
NAICS code 423310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,326 businesses in the "Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers" industry received a total of $1.04B 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 18 employees, 80% higher than Chattanooga Hardwood Center,Inc's reported 10 employees, and received an average PPP loan of $194,849, 679% higher than this company's loan of $25,000.
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Footnotes & Information
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