PPP Loan Data — Keani Furniture Inc, Asheboro, NC
Keani Furniture Inc is a subchapter s corporation located at 1546 N Fayetteville St in Asheboro, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,342.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Keani Furniture Inc in Asheboro, NC received a Paycheck Protection Loan of $25,342 through Quontic Bank, which was approved in April, 2020.
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, Keani Furniture Inc's 2019 payroll expenses are estimated to be at least $121,642.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,328 per employee1
Reported PPP Proceed Usage:
On the PPP application, Keani Furniture Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,342
Business Information - Keani Furniture Inc in Asheboro, NC
1546 N Fayetteville St
Asheboro, NC 27203
Reupholstery and Furniture Repair
NAICS code 811420
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Asheboro
In the Asheboro area, 2 businesses in the "Reupholstery and Furniture Repair" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $23,281 (compared to this company's $25,342).
Similar Nearby Businesses Who Received PPP Funding:
Clark Claim Services, LLC
Industry PPP Comparison Statistics
Nationwide, 4,987 businesses in the "Reupholstery and Furniture Repair" industry received a total of $136.82M 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, 20% lower than Keani Furniture Inc's reported 5 employees, and received an average PPP loan of $27,435, 8% higher than this company's loan of $25,342.
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Footnotes & Information
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