Morris Furniture Co., Inc. in Fairborn, OH - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Morris Furniture Co., Inc., Fairborn, OH

Morris Furniture Co., Inc.

Entity: Corporation

Industry: Furniture Stores

Location: Fairborn, OH

Morris Furniture Co., Inc. is a corporation located at 2377 Commerce Center Blvd in Fairborn, Ohio that received a Coronavirus-related PPP loan from the SBA of $4,973,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.97M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-13

Lender:

PNC BANK, NATIONAL ASSOCIATION

Morris Furniture Co., Inc. received a Paycheck Protection Loan of $4.97M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Morris Furniture Co., Inc.'s total 2019 payroll expenses were approximately $23.87M in order to qualify for the PPP loan amount received.

Unlike most businesses, Morris Furniture Co., Inc.'s PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Morris Furniture Co., Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Morris Furniture Co., Inc. in Fairborn, OH

Morris Furniture Co., Inc.
2377 Commerce Center Blvd
Fairborn, OH 45324

Business Industry

Furniture Stores (NAICS code 442110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: NON-VETERAN

Congressional District: OH-10

Industry PPP Comparison Statistics

Nationwide, 10,527 businesses in the "Furniture Stores" industry received a total of $1,068,363,849.00 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 10 employees, and received an average PPP loan of $101,488, 98% lower than this company's loan of $4.97M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.

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