PPP Loan Data — Dessel Roach Floor Covering Co, West Union, IA
Dessel Roach Floor Covering Co is a corporation located at 611 West Bradford St in West Union, Iowa that received a Coronavirus-related PPP loan from the SBA of $46,832.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Kerndt Brothers Savings Bank
Dessel Roach Floor Covering Co in West Union, IA received a Paycheck Protection Loan of $46,832 through Kerndt Brothers Savings 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 January, 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, Dessel Roach Floor Covering Co's 2019 payroll expenses are estimated to be at least $224,794.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,959 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dessel Roach Floor Covering Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,832
Business Information - Dessel Roach Floor Covering Co in West Union, IA
611 West Bradford St
West Union, IA 52175
Floor Covering Stores
NAICS code 442210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
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, 80% higher than Dessel Roach Floor Covering Co's reported 5 employees, and received an average PPP loan of $86,327, 84% higher than this company's loan of $46,832.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!