PPP Loan Data — Hardwood Flooring Products, South Bend, IN
Hardwood Flooring Products is a sole proprietorship located at 19877auten Rd. in South Bend, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,481.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:KeyBank National Association
Hardwood Flooring Products in South Bend, IN received a Paycheck Protection Loan of $25,481 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 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, Hardwood Flooring Products' 2019 payroll expenses are estimated to be at least $122,309.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,577 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hardwood Flooring Products reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,481
Business Information - Hardwood Flooring Products in South Bend, IN
South Bend, IN 46637
Finish Carpentry Contractors
NAICS code 238350
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 28,703 businesses in the "Finish Carpentry Contractors" industry received a total of $1.11B 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 4 employees, the same amount reported by Hardwood Flooring Products and received an average PPP loan of $38,555, 51% higher than this company's loan of $25,481.
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Footnotes & Information
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