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PPP Loan Data — Forms & Supply Inc., Charlotte, NC

SBA PPP loan data, payroll data, and salaries for Forms & Supply Inc.
NC

Forms & Supply Inc.

Entity: Subchapter S Corporation

Industry: Office Supplies and Stationery Stores

Location: Charlotte, NC

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Forms & Supply Inc. is a subchapter s corporation located at 6410 Orr Rd in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,867,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.87M

Jobs Retained:

274

Loan Approved:

2020-04-13

Lender:

FIFTH THIRD BANK

Forms & Supply Inc. received a Paycheck Protection Loan of $2.87M through FIFTH THIRD BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Forms & Supply Inc.'s total 2019 payroll expenses were approximately $13.76M in order to qualify for the PPP loan amount received.

Based on their reported 274 jobs retained, this equals an estimated average yearly compensation of $50,227 per employee1.

Because the loan received by Forms & Supply Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Forms & Supply Inc. in Charlotte, NC

Forms & Supply Inc.
6410 Orr Rd
Charlotte, NC 28213

Business Industry

Office Supplies and Stationery Stores (NAICS code 453210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-12

Industry PPP Comparison Statistics

Nationwide, 2,286 businesses in the "Office Supplies and Stationery Stores" industry received a total of $199,590,336.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 9 employees, 97% lower than Forms & Supply Inc.'s reported 274 employees, and received an average PPP loan of $87,310, 97% lower than this company's loan of $2.87M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/forms-and-supply-inc-charlotte-nc