MO

Frank Flori Equipment Company Inc

Entity: Corporation

Industry: Industrial Machinery and Equipment Merchant Wholesalers

Location: Maryland Heights, MO

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Frank Flori Equipment Company Inc is a corporation located at 2430 Northline Industrial Dr in Maryland Heights, Missouri that received a Coronavirus-related PPP loan from the SBA of $150,000.00 in March, 2021.

The company has reported itself as a White male owned business, and employed at least nine people during the applicable loan loan period.

$ PPP Loan Information

Loan #7896858503

Frank Flori Equipment Company Inc in Maryland Heights, MO received a Paycheck Protection Loan of $150,000 through Bank of America, National Association, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

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, Frank Flori Equipment Company Inc's 2019 payroll expenses are estimated to be at least $720,000.

Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $80,000 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Frank Flori Equipment Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $149,999

Business Information - Frank Flori Equipment Company Inc in Maryland Heights, MO

Similar Companies near Maryland Heights

In the Maryland Heights area, 16 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 50 employees (compared to this company's 9) and received an average PPP loan of $757,971 (compared to this company's $150,000).

Industry PPP Comparison Statistics

Nationwide, 10,665 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.2B 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 16 employees, 78% higher than Frank Flori Equipment Company Inc's reported 9 employees, and received an average PPP loan of $206,675, 38% higher than this company's loan of $150,000.