PPP Loan Data — Nathan's Furniture Inc, Warwick, RI
Nathan's Furniture Inc is a subchapter s corporation located at 300 Quaker Ln in Warwick, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Nathan's Furniture Inc in Warwick, RI received a Paycheck Protection Loan of $47,000 through Navigant CU, 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 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, Nathan's Furniture Inc's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $28,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nathan's Furniture Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $35,250
- Utilities: $5,875
- Rent: $5,875
Business Information - Nathan's Furniture Inc in Warwick, RI
300 Quaker Ln
Warwick, RI 2886
NAICS code 442110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Warwick
In the Warwick area, 3 businesses in the "Furniture Stores" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 8) and received an average PPP loan of $43,761 (compared to this company's $47,000).
Similar Nearby Businesses Who Received PPP Funding:
Office Direct Cannava Design LTD
Rugged Entrepreneurs LLC
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, 25% higher than Nathan's Furniture Inc's reported 8 employees, and received an average PPP loan of $93,282, 98% higher than this company's loan of $47,000.
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Footnotes & Information
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