PPP Loan Data — Fran's Carpet Service, Inc, Gilbertsville, PA
Fran's Carpet Service, Inc is a subchapter s corporation located at 129 Rick Rd in Gilbertsville, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:KeyBank National Association
Fran's Carpet Service, Inc in Gilbertsville, PA received a Paycheck Protection Loan of $25,000 through KeyBank National Association, 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 April, 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, Fran's Carpet Service, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fran's Carpet Service, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Fran's Carpet Service, Inc in Gilbertsville, PA
129 Rick Rd
Gilbertsville, PA 19525
NAICS code 238330
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Gilbertsville
In the Gilbertsville area, 2 businesses in the "Flooring Contractors" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $17,250 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 28,132 businesses in the "Flooring Contractors" industry received a total of $1.48B 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 5 employees, 25% higher than Fran's Carpet Service, Inc's reported 4 employees, and received an average PPP loan of $52,734, 111% higher than this company's loan of $25,000.
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Footnotes & Information
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