PPP Loan Data — Innovative Hearth Products, LLC, Russellville, AL
Innovative Hearth Products, LLC
Entity: Limited Liability Company (LLC)
Location: Russellville, ALTweet This • Search All PPP Data
Innovative Hearth Products, LLC is a limited liability company (LLC) located at 1769 Lawrence St E in Russellville, Alabama that received a Coronavirus-related PPP loan from the SBA of $2,701,500.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 446 people during the applicable loan loan period.
$ PPP Loan Information
Lender:CADENCE BANK, NATIONAL ASSOCIATION
Innovative Hearth Products, LLC in Russellville, AL received a Paycheck Protection Loan of $2.7M through CADENCE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Innovative Hearth Products, LLC's total 2019 payroll expenses were approximately $12.97M in order to qualify for the PPP loan amount received.
Based on their reported 446 jobs retained, this equals an estimated average yearly compensation of $29,074 per employee1.
Business Information - Innovative Hearth Products, LLC in Russellville, AL
1769 Lawrence St E
Russellville, AL 35654
Heating Equipment (except Warm Air Furnaces) Manufacturing (NAICS code 333414)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: AL-04
Similar Companies near Russellville
In the Russellville area, 2 businesses in the "Heating Equipment (except Warm Air Furnaces) Manufacturing" industry received a PPP loan. These local businesses reported an average of 473 employees (compared to this company's 446) and received an average PPP loan of $5,149,250 (compared to this company's $2.7M).
Similar Nearby Businesses Who Received PPP Funding:
IHP Operations , LLC
Industry PPP Comparison Statistics
Nationwide, 364 businesses in the "Heating Equipment (except Warm Air Furnaces) Manufacturing" industry received a total of $107,057,565.00 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 22 employees, 95% lower than Innovative Hearth Products, LLC's reported 446 employees, and received an average PPP loan of $294,114, 89% lower than this company's loan of $2.7M.
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