PPP Loan Data — Delux Carpet Co, Saint Paul, MN
Delux Carpet Co is a corporation located at 1195 E. 7th St. in Saint Paul, Minnesota that received a Coronavirus-related PPP loan from the SBA of $46,610.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:North Star Bank
Delux Carpet Co in Saint Paul, MN received a Paycheck Protection Loan of $46,610 through North Star Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.
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, Delux Carpet Co's 2019 payroll expenses are estimated to be at least $223,728.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $31,961 per employee1
Reported PPP Proceed Usage:
On the PPP application, Delux Carpet Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,610
Business Information - Delux Carpet Co in Saint Paul, MN
1195 E. 7th St.
Saint Paul, MN 55106
Floor Covering Stores
NAICS code 442210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Saint Paul
In the Saint Paul area, 3 businesses in the "Floor Covering Stores" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 7) and received an average PPP loan of $35,483 (compared to this company's $46,610).
Similar Nearby Businesses Who Received PPP Funding:
Carpets By Lindsey & Associates Inc
Saint Paul, MN
Carpets By Lindsey Inc
Saint Paul, MN
Industry PPP Comparison Statistics
Nationwide, 8,871 businesses in the "Floor Covering Stores" industry received a total of $765.8M 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 9 employees, 29% higher than Delux Carpet Co's reported 7 employees, and received an average PPP loan of $86,327, 85% higher than this company's loan of $46,610.
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Footnotes & Information
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