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PPP Loan Data — Furniture Mall Inc,
Atlanta, GA
Furniture Mall Inc
Entity: Corporation
Industry: Furniture Stores
Location: Atlanta, GA
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Furniture Mall Inc is a corporation located at 5247 Buford Hwy Ne in Atlanta, Georgia that received a Coronavirus-related PPP loan from the SBA of $100,190.00 in February, 2021.
The company has reported itself as an Asian male owned business, and employed at least twenty people during the applicable loan loan period.
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PPP Loan Information
Loan #3464138410
Loan Size:
Jobs Retained:
20Loan Approved:
2021-02-05Loan Status:
Ongoing LoanLender:
Metro City BankFurniture Mall Inc in Atlanta, GA received a Paycheck Protection Loan of $100,190 through Metro City Bank, which was approved in February, 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
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Furniture Mall Inc's 2019 payroll expenses are estimated to be at least $480,912.
Based on their reported 20 jobs retained, this equals an estimated average yearly compensation of $24,046 per employee1
Reported PPP Proceed Usage:
On the PPP application, Furniture Mall Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $100,188
- Utilities: $1
Business Information - Furniture Mall Inc in Atlanta, GA
5247 Buford Hwy Ne
Atlanta, GA 30340
Business Industry:
Furniture Stores
NAICS code 442110
Business Owner Demographics
Race: Asian
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Atlanta
In the Atlanta area, 8 businesses in the "Furniture Stores" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 20) and received an average PPP loan of $649,458 (compared to this company's $100,190).
Similar Nearby Businesses Who Received PPP Funding:
Rome Brothers Company, Inc
Atlanta, GA
Hotel Content Liquidators LLC
Chamblee, GA
Carithers Wallace Courteney, LLC
Atlanta, GA
Hotel Content Liquidators LLC
Chamblee, GA
Carithers-Wallace-Courtenay LLC
Atlanta, GA
Furniture Mall, Inc
Atlanta, GA
Camille Hebron
Doraville, GA
Industry PPP Comparison Statistics
Nationwide, 15,331 businesses in the "Furniture Stores" 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 11 employees, 45% lower than Furniture Mall Inc's reported 20 employees, and received an average PPP loan of $96,853, 3% lower than this company's loan of $100,190.
Furniture Mall, Inc
Entity: Corporation
Industry: Furniture Stores
Location: Atlanta, GA
Tweet This
•
Search All PPP Data
Furniture Mall, Inc is a corporation located at 5247 Buford Hwy in Atlanta, Georgia that received a Coronavirus-related PPP loan from the SBA of $134,370.00 in April, 2020.
The company has reported itself as an Asian owned business, and employed at least fifteen people during the applicable loan loan period.
$
PPP Loan Information
Loan #5311237200
Loan Size:
Jobs Retained:
15Loan Approved:
2020-04-27Loan Status:
Ongoing LoanLender:
Metro City BankFurniture Mall, Inc in Atlanta, GA received a Paycheck Protection Loan of $134,370 through Metro City Bank, which was approved in April, 2020.
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
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Furniture Mall, Inc's 2019 payroll expenses are estimated to be at least $644,976.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $42,998 per employee1
Reported PPP Proceed Usage:
On the PPP application, Furniture Mall, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $134,370
Business Information - Furniture Mall, Inc in Atlanta, GA
5247 Buford Hwy
Atlanta, GA 30340
Business Industry:
Furniture Stores
NAICS code 442110
Business Owner Demographics
Race: Asian
Ethnicity: Not Hispanic or Latino
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Atlanta
In the Atlanta area, 8 businesses in the "Furniture Stores" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 15) and received an average PPP loan of $649,458 (compared to this company's $134,370).
Similar Nearby Businesses Who Received PPP Funding:
Rome Brothers Company, Inc
Atlanta, GA
Hotel Content Liquidators LLC
Chamblee, GA
Carithers Wallace Courteney, LLC
Atlanta, GA
Hotel Content Liquidators LLC
Chamblee, GA
Carithers-Wallace-Courtenay LLC
Atlanta, GA
Furniture Mall Inc
Atlanta, GA
Camille Hebron
Doraville, GA
Industry PPP Comparison Statistics
Nationwide, 15,331 businesses in the "Furniture Stores" 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 11 employees, 27% lower than Furniture Mall, Inc's reported 15 employees, and received an average PPP loan of $96,853, 28% lower than this company's loan of $134,370.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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