PPP Loan Data — Furnitureland South, Inc., Jamestown, NC
Furnitureland South, Inc. is a subchapter s corporation located at 5635 Riverdale Drive in Jamestown, North Carolina that received a Coronavirus-related PPP loan from the SBA of $5,506,200.00 in April, 2020.
$ PPP Loan Information
Lender:FIRST-CITIZENS BANK & TRUST COMPANY
Furnitureland South, Inc. in Jamestown, NC received a Paycheck Protection Loan of $5.51M through FIRST-CITIZENS BANK & TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Furnitureland South, Inc.'s total 2019 payroll expenses were approximately $26.43M in order to qualify for the PPP loan amount received.
Based on their reported 490 jobs retained, this equals an estimated average yearly compensation of $53,938 per employee1.
Business Information - Furnitureland South, Inc. in Jamestown, NC
5635 Riverdale Drive
Jamestown, NC 27282
Furniture Stores (NAICS code 442110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NC-13
Similar Companies near Jamestown
In the Jamestown area, 4 businesses in the "Furniture Stores" industry received a PPP loan. These local businesses reported an average of 123 employees (compared to this company's 490) and received an average PPP loan of $1,401,031 (compared to this company's $5.51M).
Similar Nearby Businesses Who Received PPP Funding:
JTP Enterprises, Inc.
United Furniture Services
4250 Furniture Ave
Industry PPP Comparison Statistics
Nationwide, 10,527 businesses in the "Furniture Stores" industry received a total of $1,068,363,849.00 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 10 employees, 98% lower than Furnitureland South, Inc.'s reported 490 employees, and received an average PPP loan of $101,488, 98% lower than this company's loan of $5.51M.
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, and is published unmodified, as provided by the SBA.
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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