PPP Loan Data — Metropolitan Hardwood Floors Us Inc, Kent, WA
Metropolitan Hardwood Floors Us Inc is a corporation located at 8106 S 216th St in Kent, Washington that received a Coronavirus-related PPP loan from the SBA of $1,728,568.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Metropolitan Hardwood Floors Us Inc in Kent, WA received a Paycheck Protection Loan of $1.73M through Bank of America, National Association, which was approved in May, 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 March, 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, Metropolitan Hardwood Floors Us Inc's 2019 payroll expenses are estimated to be at least $8.3M.
Based on their reported 125 jobs retained, this equals an estimated average yearly compensation of $66,377 per employee1
Reported PPP Proceed Usage:
On the PPP application, Metropolitan Hardwood Floors Us Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,728,568
Business Information - Metropolitan Hardwood Floors Us Inc in Kent, WA
8106 S 216th St
Kent, WA 98032
Home Furnishing Merchant Wholesalers
NAICS code 423220
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Kent
In the Kent area, 4 businesses in the "Home Furnishing Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 125) and received an average PPP loan of $585,303 (compared to this company's $1.73M).
Similar Nearby Businesses Who Received PPP Funding:
Foremost Hardwood, Inc
Signature Interiors And Design LLC
Noble Interiors And Design Inc
Industry PPP Comparison Statistics
Nationwide, 5,114 businesses in the "Home Furnishing Merchant Wholesalers" industry received a total of $620.15M 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 11 employees, 91% lower than Metropolitan Hardwood Floors Us Inc's reported 125 employees, and received an average PPP loan of $121,266, 93% lower than this company's loan of $1.73M.
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Footnotes & Information
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