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PPP Loan Data — Davis Furniture Industries, Inc., High Point, NC

SBA PPP loan data, payroll data, and salaries for Davis Furniture Industries, Inc.
NC

Davis Furniture Industries, Inc.

Entity: Corporation

Industry: Wood Office Furniture Manufacturing

Location: High Point, NC

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Davis Furniture Industries, Inc. is a corporation located at 2401 College Dr in High Point, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,614,760.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 266 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.61M

Jobs Retained:

266

Loan Approved:

2020-04-13

Lender:

PINNACLE BANK

Davis Furniture Industries, Inc. received a Paycheck Protection Loan of $3.61M through PINNACLE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Davis Furniture Industries, Inc.'s total 2019 payroll expenses were approximately $17.35M in order to qualify for the PPP loan amount received.

Based on their reported 266 jobs retained, this equals an estimated average yearly compensation of $65,229 per employee1.

Because the loan received by Davis Furniture Industries, 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 - Davis Furniture Industries, Inc. in High Point, NC

Davis Furniture Industries, Inc.
2401 College Dr
High Point, NC 27260

Business Industry

Wood Office Furniture Manufacturing (NAICS code 337211)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: NC-13

Similar Companies near High Point

In the High Point area, 2 businesses in the "Wood Office Furniture Manufacturing" industry received a PPP loan. These local businesses reported an average of 135 employees (compared to this company's 266) and received an average PPP loan of $1,818,869 (compared to this company's $3.61M).

Similar Nearby Businesses Who Received PPP Funding:

Ullmanique, Inc
High Point, NC

$22,978 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 424 businesses in the "Wood Office Furniture Manufacturing" industry received a total of $106,682,060.00 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 21 employees, 92% lower than Davis Furniture Industries, Inc.'s reported 266 employees, and received an average PPP loan of $251,609, 93% lower than this company's loan of $3.61M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/davis-furniture-industries-inc-high-point-nc