PPP Loan Data — Miller Home Furnishings LLC, Merrill, WI
Miller Home Furnishings LLC is a limited liability company (LLC) located at 120 N Prospect Sr in Merrill, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $25,040.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:BMO Harris Bank National Association
Miller Home Furnishings LLC in Merrill, WI received a Paycheck Protection Loan of $25,040 through BMO Harris Bank National Association, which was approved in April, 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 May, 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, Miller Home Furnishings LLC's 2019 payroll expenses are estimated to be at least $120,192.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,032 per employee1
Reported PPP Proceed Usage:
On the PPP application, Miller Home Furnishings LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,040
Business Information - Miller Home Furnishings LLC in Merrill, WI
120 N Prospect Sr
Merrill, WI 54452
NAICS code 442110
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Merrill
In the Merrill area, 2 businesses in the "Furniture Stores" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 6) and received an average PPP loan of $40,765 (compared to this company's $25,040).
Similar Nearby Businesses Who Received PPP Funding:
Courtside Furniture Inc
Industry PPP Comparison Statistics
Nationwide, 16,379 businesses in the "Furniture Stores" industry received a total of $1.53B 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 10 employees, 67% higher than Miller Home Furnishings LLC's reported 6 employees, and received an average PPP loan of $93,282, 273% higher than this company's loan of $25,040.
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Footnotes & Information
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