Rowe Fine Furniture, Inc. in Elliston, VA - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Rowe Fine Furniture, Inc., Elliston, VA

Rowe Fine Furniture, Inc.

Entity: Corporation

Industry: Upholstered Household Furniture Manufacturing

Location: Elliston, VA

Rowe Fine Furniture, Inc. is a corporation located at 2121 Gardner St in Elliston, Virginia that received a Coronavirus-related PPP loan from the SBA of $4,986,900.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.99M

Jobs Retained:

500

Loan Approved:

2020-04-10

Lender:

EAST WEST BANK

Rowe Fine Furniture, Inc. received a Paycheck Protection Loan of $4.99M through EAST WEST BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Rowe Fine Furniture, Inc.'s total 2019 payroll expenses were approximately $23.94M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $47,874 per employee¹.

Because the loan received by Rowe Fine Furniture, 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 - Rowe Fine Furniture, Inc. in Elliston, VA

Rowe Fine Furniture, Inc.
2121 Gardner St
Elliston, VA 24087

Business Industry

Upholstered Household Furniture Manufacturing (NAICS code 337121)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-09

Industry PPP Comparison Statistics

Nationwide, 827 businesses in the "Upholstered Household Furniture Manufacturing" industry received a total of $218,176,953.00 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 25 employees, 95% lower than Rowe Fine Furniture, Inc.'s reported 500 employees, and received an average PPP loan of $263,817, 95% lower than this company's loan of $4.99M.

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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