PPP Loan Data — Furniture On Consignment Ll, Westport, CT
Furniture On Consignment Ll is a limited liability company (LLC) located at 1435 Post Rd East in Westport, Connecticut 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:TD Bank, National Association
Furniture On Consignment Ll in Westport, CT received a Paycheck Protection Loan of $25,000 through TD Bank, 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 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, Furniture On Consignment Ll's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Furniture On Consignment Ll reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Furniture On Consignment Ll in Westport, CT
1435 Post Rd East
Westport, CT 6880
Used Merchandise Stores
NAICS code 453310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Westport
In the Westport area, 8 businesses in the "Used Merchandise Stores" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 3) and received an average PPP loan of $93,229 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Furniture On Consignment II
Leroux Antiques Inc-Sba Small 7A Term
Leroux Antiques Inc
University Stamp Co., Inc
Laurie A. Perren
Industry PPP Comparison Statistics
Nationwide, 12,348 businesses in the "Used Merchandise Stores" industry received a total of $577.39M 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 8 employees, 167% higher than Furniture On Consignment Ll's reported 3 employees, and received an average PPP loan of $46,760, 87% higher than this company's loan of $25,000.
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Footnotes & Information
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