PPP Loan Data — Miles Furniture Company Inc, Corsicana, TX
Miles Furniture Company Inc
Location: Corsicana, TXTweet This • Search All PPP Data
Miles Furniture Company Inc is a corporation located at 300 N Beaton St in Corsicana, Texas that received a Coronavirus-related PPP loan from the SBA of $46,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Miles Furniture Company Inc in Corsicana, TX received a Paycheck Protection Loan of $46,100 through Prosperity 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, Miles Furniture Company Inc's 2019 payroll expenses are estimated to be at least $221,280.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,880 per employee1
Reported PPP Proceed Usage:
On the PPP application, Miles Furniture Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,100
Business Information - Miles Furniture Company Inc in Corsicana, TX
300 N Beaton St
Corsicana, TX 75110
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Corsicana
In the Corsicana area, 14 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $17,127 (compared to this company's $46,100).
Similar Nearby Businesses Who Received PPP Funding:
Kaufman Mowers And More LLC
Richard J Hocker
James Cox Inc
Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 33% lower than Miles Furniture Company Inc's reported 6 employees, and received an average PPP loan of $34,329, 26% lower than this company's loan of $46,100.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!