PPP Loan Data — FCA Of Merrillvile, Inc, Merrillville, IN
FCA Of Merrillvile, Inc is a sole proprietorship located at 3731 E. 81st Avenue, Route 30 in Merrillville, Indiana that received a Coronavirus-related PPP loan from the SBA of $46,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
FCA Of Merrillvile, Inc in Merrillville, IN received a Paycheck Protection Loan of $46,800 through Busey 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 December, 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, FCA Of Merrillvile, Inc's 2019 payroll expenses are estimated to be at least $224,640.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $32,091 per employee1
Reported PPP Proceed Usage:
On the PPP application, FCA Of Merrillvile, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $35,100
- Rent: $11,700
Business Information - FCA Of Merrillvile, Inc in Merrillville, IN
3731 E. 81st Avenue, Route 30
Merrillville, IN 46410
Floor Covering Stores
NAICS code 442210
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Merrillville
In the Merrillville area, 3 businesses in the "Floor Covering Stores" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 7) and received an average PPP loan of $152,707 (compared to this company's $46,800).
Similar Nearby Businesses Who Received PPP Funding:
Floor Covering Assoc Of Merrillville Inc - Fab4003
Master Tile Inc
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 FCA Of Merrillvile, Inc's reported 7 employees, and received an average PPP loan of $86,327, 84% higher than this company's loan of $46,800.
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Footnotes & Information
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