PPP Loan Data — Farrell Calhoun, Inc, Memphis, TN
Farrell Calhoun, Inc is a corporation located at 221 E. Carolina Ave in Memphis, Tennessee that received a Coronavirus-related PPP loan from the SBA of $2,092,700.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Farrell Calhoun, Inc in Memphis, TN received a Paycheck Protection Loan of $2.09M through Triumph Bank, which was approved in April, 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, Farrell Calhoun, Inc's 2019 payroll expenses are estimated to be at least $10.04M.
Based on their reported 223 jobs retained, this equals an estimated average yearly compensation of $45,045 per employee1
Reported PPP Proceed Usage:
On the PPP application, Farrell Calhoun, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,092,700
Business Information - Farrell Calhoun, Inc in Memphis, TN
221 E. Carolina Ave
Memphis, TN 38126
Paint and Wallpaper Stores
NAICS code 444120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Memphis
In the Memphis area, 2 businesses in the "Paint and Wallpaper Stores" industry received a PPP loan. These local businesses reported an average of 112 employees (compared to this company's 223) and received an average PPP loan of $1,052,417 (compared to this company's $2.09M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 1,880 businesses in the "Paint and Wallpaper Stores" industry received a total of $113.37M 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 7 employees, 97% lower than Farrell Calhoun, Inc's reported 223 employees, and received an average PPP loan of $60,301, 97% lower than this company's loan of $2.09M.
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Footnotes & Information
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