PPP Loan Data — Palmer Wholesale Decor, Ogden, UT
Palmer Wholesale Decor is a limited liability company (LLC) located at 3562 Washington Blvd in Ogden, Utah that received a Coronavirus-related PPP loan from the SBA of $25,465.00 in June, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Palmer Wholesale Decor in Ogden, UT received a Paycheck Protection Loan of $25,465 through Goldenwest FCU, which was approved in June, 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, Palmer Wholesale Decor's 2019 payroll expenses are estimated to be at least $122,232.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,446 per employee1
Reported PPP Proceed Usage:
On the PPP application, Palmer Wholesale Decor reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,465
Business Information - Palmer Wholesale Decor in Ogden, UT
3562 Washington Blvd
Ogden, UT 84403
Wholesale Trade Agents and Brokers
NAICS code 425120
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Ogden
In the Ogden area, 6 businesses in the "Wholesale Trade Agents and Brokers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $22,642 (compared to this company's $25,465).
Similar Nearby Businesses Who Received PPP Funding:
Silverfox Seo, LLC
Farr West, UT
Industry PPP Comparison Statistics
Nationwide, 32,002 businesses in the "Wholesale Trade Agents and Brokers" industry received a total of $1.03B 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 3 employees, 40% lower than Palmer Wholesale Decor's reported 5 employees, and received an average PPP loan of $32,279, 27% higher than this company's loan of $25,465.
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Footnotes & Information
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