PPP Loan Data — Quality Textures, Inc, Roseville, MI
Quality Textures, Inc is a subchapter s corporation located at 29800 Parkway in Roseville, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,202.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Quality Textures, Inc in Roseville, MI received a Paycheck Protection Loan of $25,202 through JPMorgan Chase 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, Quality Textures, Inc's 2019 payroll expenses are estimated to be at least $120,970.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,243 per employee1
Reported PPP Proceed Usage:
On the PPP application, Quality Textures, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,902
- Utilities: $1,500
- Rent: $4,800
Business Information - Quality Textures, Inc in Roseville, MI
Roseville, MI 48066
Reupholstery and Furniture Repair
NAICS code 811420
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Roseville
In the Roseville area, 3 businesses in the "Reupholstery and Furniture Repair" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $31,602 (compared to this company's $25,202).
Similar Nearby Businesses Who Received PPP Funding:
B & D Upholstering, Inc
Industry PPP Comparison Statistics
Nationwide, 4,987 businesses in the "Reupholstery and Furniture Repair" industry received a total of $136.82M 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 4 employees, the same amount reported by Quality Textures, Inc and received an average PPP loan of $27,435, 9% higher than this company's loan of $25,202.
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Footnotes & Information
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