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PPP Loan Data — Indiana Furniture Industries, Inc.,
Jasper, IN
Indiana Furniture Industries, Inc.
Entity: Sole Proprietorship
Industry: Wood Office Furniture Manufacturing
Location: Jasper, IN
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Indiana Furniture Industries, Inc. is a sole proprietorship located at 1224 Mill Street in Jasper, Indiana that received a Coronavirus-related PPP loan from the SBA of $3,226,500.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
249Loan Approved:
2020-04-04Lender:
GERMAN AMERICAN BANKIndiana Furniture Industries, Inc. in Jasper, IN received a Paycheck Protection Loan of $3.23M through GERMAN AMERICAN BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Indiana Furniture Industries, Inc.'s total 2019 payroll expenses were approximately $15.49M in order to qualify for the PPP loan amount received.
Based on their reported 249 jobs retained, this equals an estimated average yearly compensation of $62,198 per employee1.
Business Information - Indiana Furniture Industries, Inc. in Jasper, IN
1224 Mill Street
Jasper, IN 47546
Business Industry
Wood Office Furniture Manufacturing (NAICS code 337211)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: IN-08Industry PPP Comparison Statistics
Nationwide, 424 businesses in the "Wood Office Furniture Manufacturing" industry received a total of $106,682,060.00 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 21 employees, 92% lower than Indiana Furniture Industries, Inc.'s reported 249 employees, and received an average PPP loan of $251,609, 92% lower than this company's loan of $3.23M.
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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