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PPP Loan Data — CV Industries, Inc.,
Valdese, NC
CV Industries, Inc.
Entity: Subchapter S Corporation
Industry: Broadwoven Fabric Mills
Location: Valdese, NC
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CV Industries, Inc. is a subchapter s corporation located at 1000 Perkins Rd Se in Valdese, North Carolina that received a Coronavirus-related PPP loan from the SBA of $8,575,727.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-09Lender:
JPMORGAN CHASE BANK, NATIONAL ASSOCIATIONCV Industries, Inc. received a Paycheck Protection Loan of $8.58M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, CV Industries, Inc.'s total 2019 payroll expenses were approximately $41.16M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $82,327 per employee1.
Business Information - CV Industries, Inc. in Valdese, NC
1000 Perkins Rd Se
Valdese, NC 28690
Business Industry
Broadwoven Fabric Mills (NAICS code 313210)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NC-11Industry PPP Comparison Statistics
Nationwide, 345 businesses in the "Broadwoven Fabric Mills" industry received a total of $102,198,215.00 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 23 employees, 95% lower than CV Industries, Inc.'s reported 500 employees, and received an average PPP loan of $296,227, 97% lower than this company's loan of $8.58M.
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.
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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