PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Hornwood Inc, Lilesville, NC

ALERT: There are 2 PPP loans for a total of $5.02M in our database for businesses with the name "Hornwood Inc" in Lilesville, NC. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Hornwood Inc
NC

Hornwood Inc

Entity: Corporation

Industry: Knit Fabric Mills

Location: Lilesville, NC

Search All PPP Data

Hornwood Inc is a corporation located at 766 Haileys Ferry Rd in Lilesville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

$ PPP Loan Information
Loan #2487228400

Loan Size:

$2M

Jobs Retained:

230

Loan Approved:

2021-02-03

Loan Status:

Ongoing Loan

Lender:

Uwharrie Bank

Hornwood Inc in Lilesville, NC received a Paycheck Protection Loan of $2M through Uwharrie 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 More
Understanding 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 More

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, Hornwood Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $41,739 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hornwood Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,998
  • Utilities: $1
Because the loan received by Hornwood Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Hornwood Inc in Lilesville, NC

Hornwood Inc
766 Haileys Ferry Rd
Lilesville, NC 28091

Business Industry:
Knit Fabric Mills
NAICS code 313240

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Rural

Anson County, NC — SBA Office 0460 — Congressional District: NC-09

Similar Companies near Lilesville

In the Lilesville area, 4 businesses in the "Knit Fabric Mills" industry received a PPP loan. These local businesses reported an average of 138 employees (compared to this company's 230) and received an average PPP loan of $1,278,527 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 145 businesses in the "Knit Fabric Mills" industry received a total of $38.74M 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 27 employees, 88% lower than Hornwood Inc's reported 230 employees, and received an average PPP loan of $267,190, 87% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Hornwood, Inc
NC

Hornwood, Inc

Entity: Corporation

Industry: Knit Fabric Mills

Location: Lilesville, NC

Search All PPP Data

Hornwood, Inc is a corporation located at 766 Haileys Ferry Road in Lilesville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,023,056.00 in April, 2020.

$ PPP Loan Information
Loan #3465217307

Loan Size:

$3.02M

Jobs Retained:

317

Loan Approved:

2020-04-29

Loan Status:

Paid in Full or Forgiven

Lender:

Truist Bank d/b/a Branch Banking & Trust Co

Hornwood, Inc in Lilesville, NC received a Paycheck Protection Loan of $3.02M through Truist Bank d/b/a Branch Banking & Trust Co, 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 July, 2021.

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 More
Understanding 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 More

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, Hornwood, Inc's 2019 payroll expenses are estimated to be at least $14.51M.

Based on their reported 317 jobs retained, this equals an estimated average yearly compensation of $45,775 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hornwood, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,023,056
Because the loan received by Hornwood, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Hornwood, Inc in Lilesville, NC

Hornwood, Inc
766 Haileys Ferry Road
Lilesville, NC 28091

Business Industry:
Knit Fabric Mills
NAICS code 313240

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Rural

Anson County, NC — SBA Office 0460 — Congressional District: NC-09

Similar Companies near Lilesville

In the Lilesville area, 4 businesses in the "Knit Fabric Mills" industry received a PPP loan. These local businesses reported an average of 138 employees (compared to this company's 317) and received an average PPP loan of $1,278,527 (compared to this company's $3.02M).

Industry PPP Comparison Statistics

Nationwide, 145 businesses in the "Knit Fabric Mills" industry received a total of $38.74M 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 27 employees, 91% lower than Hornwood, Inc's reported 317 employees, and received an average PPP loan of $267,190, 91% lower than this company's loan of $3.02M.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/hornwood-inc-lilesville-nc