PPP Loan Data — Firelands Canvas, Inc, Sandusky, OH
Firelands Canvas, Inc
Entity: Subchapter S Corporation
Location: Sandusky, OHTweet This • Search All PPP Data
Firelands Canvas, Inc is a subchapter s corporation located at 2035 First St. in Sandusky, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,453.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:KeyBank National Association
Firelands Canvas, Inc in Sandusky, OH received a Paycheck Protection Loan of $25,453 through KeyBank National Association, which was approved in May, 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 June, 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, Firelands Canvas, Inc's 2019 payroll expenses are estimated to be at least $122,174.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,362 per employee1
Reported PPP Proceed Usage:
On the PPP application, Firelands Canvas, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,453
Business Information - Firelands Canvas, Inc in Sandusky, OH
2035 First St.
Sandusky, OH 44870
Sporting and Recreational Goods and Supplies Merchant Wholesalers
NAICS code 423910
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Sandusky
In the Sandusky area, 4 businesses in the "Sporting and Recreational Goods and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 6) and received an average PPP loan of $23,207 (compared to this company's $25,453).
Similar Nearby Businesses Who Received PPP Funding:
Tenda Horse Products, LLC
North Side Fisheries LLC
Paddle And Climb, LLC
Industry PPP Comparison Statistics
Nationwide, 6,584 businesses in the "Sporting and Recreational Goods and Supplies Merchant Wholesalers" industry received a total of $632.92M 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 10 employees, 67% higher than Firelands Canvas, Inc's reported 6 employees, and received an average PPP loan of $96,130, 278% higher than this company's loan of $25,453.
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